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Successful placement: Otto Group issues 300 million-euro bond
By subscribing to this issue, capital market investors are confirming their trust in the future of the Otto Group. Following the positive financial result of the past 2016/17 financial year, in May the Otto Group presented its strategy and growth targets for the years to come.
"We recently placed a larger bond issue in the summer of 2016. Since then, overall capital-market conditions have once again clearly improved – and we have now moved to take advantage of these", says Petra Scharner-Wolff, Chief Financial Officer Otto Group. "We are pleased at the excellent reputation that the Otto Group enjoys on the capital market, and at the trust investors place in us."
The income from the bond placement can be used for a range of business purposes. These include pursuing the Group’s investment and growth strategy, as well as investment repayments for financial instruments coming to the end of their term. The bond was issued within the framework of the European Medium Term Note Programme (EMTN Programme), which the Otto Group has used since 2013 to secure a share of the company’s financing through bond placements. The group of companies has been active on the bond market since 2009.
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