Contact
QR code for the current URL

Press release Box-ID: 856205

Otto (GmbH & Co KG) Werner-Otto-Straße 1-7 22172 Hamburg, Germany http://www.ottogroup.com
Contact Mr Robert Hägelen +49 40 64613129
Company logo of Otto (GmbH & Co KG)
Otto (GmbH & Co KG)

Successful placement: Otto Group issues 300 million-euro bond

(PresseBox) ( Hamburg, )
Otto Group, the globally active retail and services group, has successfully placed a bond issue totalling 300 million euros with a coupon of 1.875 per cent. The bond has a term of seven years.

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.

Otto (GmbH & Co KG)

Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 49,750 employees. The Group includes 123 major companies and is present in over 30 countries in Europe, North and South America and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services and Service. In the 2016/17 financial year (to 28 February), according to preliminary calculation the Otto Group generated turnover of 12.5 billion euros. It is one of the world's largest online retailer. E-commerce, catalogue sales and over-the-counter retail form the three pillars of the Otto Group's Multichannel Retail strategy. Its worldwide corporate activities, numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies operate largely independently, guaranteeing flexibility, customer proximity and optimum target-group appeal in their respective national markets.

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.
Important note:

Systematic data storage as well as the use of even parts of this database are only permitted with the written consent of unn | UNITED NEWS NETWORK GmbH.

unn | UNITED NEWS NETWORK GmbH 2002–2022, All rights reserved

The publisher indicated in each case is solely responsible for the press releases above, the event or job offer displayed, and the image and sound material used (see company info when clicking on image/message title or company info right column). As a rule, the publisher is also the author of the press releases and the attached image, sound and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.