New ZWL Zahnradwerk Leipzig GmbH: Start of trading of the new 6.5% bond 2020/2022 with a volume of 6.0 million euros on November 17, 2020

DGAP-News: Neue ZWL Zahnradwerk Leipzig GmbH / Key word (s): Bond issue

13.11.2020 / 16:30
The issuer is responsible for the content of the announcement.

New ZWL Zahnradwerk Leipzig GmbH: Start of trading of the new 6.5% bond 2020/2022 with a volume of 6.0 million euros on November 17, 2020

  • Additional space for growth investments
  • Repayment of the 2015/2021 bond secured regardless of the current issue

Leipzig, November 13th, 2020 – Neue ZWL Zahnradwerk Leipzig GmbH, an internationally active producer of engine and transmission parts, gears, transmission assemblies and fully assembled transmissions for the automotive industry, is going to sell its new 6.5% bonds 2020/2022 (ISIN: DE000A289EX3 ) with a volume of 6.0 million euros on November 17, 2020 in the Open Market of Deutsche Börse AG (open market of the Frankfurt Stock Exchange). Around EUR 4.0 million of this was placed as part of a public offer and a private placement. NZWL will invest the newly accrued funds in growth as well as in new products for hybrid and alternative drives and in e-mobility products. The company also intends to increase the issue volume through further private placements in the following months, depending on the market environment.

As part of the exchange offer, the creditors of the 7.50% bonds 2015/2021 (ISIN: DE000A13SAD4) submitted exchange orders amounting to EUR 2.007 million. Since a total of EUR 10.711 million was exchanged in 2018 and 2019, the currently outstanding bond volume of the 2015/2021 bonds is EUR 12.282 million. The 2015/2021 bonds will be redeemed on February 17, 2021.

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Dr. Hubertus Bartsch, Managing Director of Neue ZWL Zahnradwerk Leipzig GmbH: “The fresh funds from the new 2020/2022 bond will give us the desired additional scope for our planned growth investments. We can also be satisfied with the exchange result, as the total exchange rate is around 51 %. The repayment of the 2015/2021 bond was secured even before the current transaction due to our very good liquidity position. “

Quirin Privatbank AG acted as bookrunner of the transaction and Lewisfield Deutschland GmbH acted as financial advisor.

Key dates for the 2020/2022 bond

Issuer New ZWL Zahnradwerk Leipzig GmbH
Outstanding volume 6.0 million euros
ISIN / WKN DE000A289EX3 / A289EX
Company rating B- / stabil (Creditreform Rating AG, September 2020)
Kupon 6,5 % p.a.
Issue price 100 %
Denomination 1.000 Euro
Currency 17. November 2020
running time 2 years: November 17, 2020 to November 17, 2022 (only)
Interest payment Annually, in arrears on November 17th of each year (for the first time in 2021)
Repayment date 17. November 2022
Repayment price 100 %
Status Not subordinated, not secured
Notice rights of bondholders and covenants
  • Distribution restriction to max. 25% of the HGB annual surplus, adjusted for income from the sale of assets outside the normal course of business
  • Limitation of debt: Net debt / EBITDA <6.5
  • Value of sold assets max. 50% of the consolidated total assets
  • Negative obligation on financial liabilities
  • Kontrollwechsel
  • Third move
  • Positive commitment
  • Transparency obligation
Applicable Law German law
brochure Securities prospectus approved by CSSF (Luxembourg) with notification to BaFin (Germany)
Stock market segment Open Market of Deutsche Börse AG (Regulated Unofficial Market of the Frankfurt Stock Exchange)
Financial Advisor Lewisfield Germany GmbH
Bookrunner Quirin Privatbank AG
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Important NOTE:
This publication is neither an offer to sell nor an invitation to submit an offer to buy any securities. The securities that are the subject of this publication are being offered by the issuer exclusively in the Federal Republic of Germany and the Grand Duchy of Luxembourg by way of a public offer. There will be no offer outside of the Federal Republic of Germany and the Grand Duchy of Luxembourg, neither in the form of a private placement nor in the form of a public offer.

In particular, the securities have not been and will not be registered under the US Securities Act of 1933, as amended (“Securities Act”) and may not be offered or offered in the United States without registration under the Securities Act or an applicable exemption from registration requirements sold.

This publication does not constitute a prospectus. The investment decision of interested investors with regard to the securities mentioned in this publication should be made solely on the basis of the securities prospectus and the bond terms and conditions drawn up by the issuer in connection with the public offer of these securities, which can be found on the website of the issuer at www.nzwl.de/anleihe2020 can be viewed.

Contact:
Frank Ostermair, Linh Chung
Better Orange IR & HV AG
Tel.: +49 (0)89 8896906 25
Email: [email protected]

11/13/2020 Publication of a Corporate News / Financial News, transmitted by DGAP – a service of EQS Group AG.
The issuer is responsible for the content of the announcement.

DGAP Distribution Services include regulatory reporting, corporate / financial news, and press releases.
Media archive at http://www.dgap.de

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