Porsche places a promissory note loan of over 1.1 billion euros

Posted on 03. Mar, 2016 by in Volkswagen Canada

Dr. Ing. h.c. F. Porsche AG has placed a promissory note loan with a total
volume of 1.1 billion euros. In light of a good direct and a resultant
oversubscription, a volume creatively directed for could be almost exceeded.
The promissory note was released in tranches with maturities of three, 5 and seven
years. For all tranches, a seductiveness rate was bound during a reduce finish of a marketing
range. This is a largest promissory note loan placed by Porsche adult to now and one
of a largest promissory note exchange of a final few years.

“Despite a stream uncertainties on a tellurian financial markets, we have
succeeded in fixation a promissory note loan in a poignant volume during extremely
attractive conditions. This underscores a high turn of financier certainty in the
company and a Porsche brand”, emphasised Lutz Meschke, Deputy Chairman of
the Executive Board and Member of a Executive Board for Finance and IT of
Porsche AG. “We will use a supports from this transaction for refinancing a bond
expiring in Feb as good as for a desirous investment projects, for instance in
e-mobility”, combined Meschke.

More than 150 institutional investors such as banks, grant supports and insurance
companies are concerned in a promissory note loan. Particularly appreciative was the
high turn of direct from unfamiliar investors, who contributed approximately 45 per
cent of a sum volume. The chain of a promissory note loan was
accompanied by Landesbank Baden-Württemberg and UniCredit Bank AG as joint
bookrunners.

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