ALSO Holding AG completes successful placement of a promissory note (Schuldscheindarlehen)
August 31 2017 - 11:41AM
Emmen, Switzerland, August 31, 2017
· Strong demand from investors results in significant
oversubscription· Issuance of EUR 154 million with
maturities of five, seven, and ten years· Proceeds
will be used to refinance existing Group liabilities
ALSO Holding AG (SIX: ALSN) has successfully completed its
placement of a promissory note (Schuldscheindarlehen). Issuance
volume of EUR 154 million is divided into three tranches with
maturities of five, seven, and ten years carrying either fixed or
variable interest. ALSO was able to take advantage of the current
low interest rate environment, which combined with strong investor
demand made it possible to raise funding on attractive terms which
were at the lower end of the offer price range.
"The completion of this private placement of a promissory note
has enabled us to capitalize on the favourable market environment
we currently see. The expansion of our financing repertoire is
another step in the evolution and optimization of our financial
structure. The proceeds will be used to ensure mid-term liquidity
access and to provide increased financial flexibility for our MORE
program. It will also provide financial headroom when it comes to
the strategic development of the Group," said Gustavo Möller-Hergt,
CEO of ALSO Holding AG.
Strong demand from investors led to significant oversubscription
for the note, which resulted in a significant increase in issuance
from the originally planned EUR 100 million to EUR 154 million. The
promissory note was placed in Europe. The placement was managed by
Bayerische Landesbank and Deutsche Bank.
"The positive response from investors is a vote of confidence in
ALSO's business model. Our customers support our move to become a
'solutions aggregator'. This taps the explosive growth potential of
cloud computing and the digitalization of entire industries and
helps our resellers pioneer a more services-led, recurring revenue
approach to sales. Our newly created Consumptional Business unit,
which encompasses ALSO's 'IT as a Service' offering, is an
essential part of reaching the emerging generation of customers
that prefer to use rather than buy software and hardware,"
Möller-Hergt continued.
Between 2011 and 2016, ALSO has consistently increased its size
and profitability, with net sales up from EUR 6.2 billion to EUR 8
billion and net income up from EUR 26.7 million to EUR 83.2
million. During the same time, the share price tripled. "ALSO aims
to continue growing organically and through targeted acquisitions,"
said Möller-Hergt.
Direct link to the press release:
https://also.com/goto/20170831en
Contact person:Brunswick Group GmbHSimon HertwigPhone: +49 89 80
99 025 25Email: shertwig@brunswickgroup.com
ALSO Holding AG (Emmen/Switzerland) brings
providers and buyers of the ICT industry together. The company
offers services at all levels of the ICT value chain from a single
source. In the European B2B marketplace, ALSO bundles logistics
services, financial services, supply services, solution services,
digital services, and IT services together into individual service
packages. ALSO's portfolio contains more than 188 000 articles from
some 500 vendors. The Group has around 3 520 employees
throughout Europe (annual average 2016). In fiscal year 2016
(closing on December 31), the company generated net sales of 8.0
billion euros. The majority shareholder of ALSO Holding AG is the
Droege Group, Düsseldorf, Germany. Further information is available
at http://www.also.com
Droege Group AG(Major
shareholder)Droege Group AG (founded in 1988) is an
independent advisory and investment company entirely family-owned.
The company acts as a specialist for tailor-made transformation
programs aiming to enhance corporate value. Droege Group AG
combines its corporate family-run structure and capital strength
into a family-equity business model. The group carries out direct
investments with own equity in corporate subsidiaries and
medium-sized companies in "special situations". With the guiding
principle "Implementation - following all the rules of art," the
group is a pioneer of implementation-oriented corporate
development. Droege Group AG proves its implementation excellence
daily within its own portfolio. The entrepreneurial platforms of
the Droege Group AG are aligned to current megatrends (knowledge,
connectivity, prevention, demography, shopping 4.0, future work).
Enthusiasm for quality, innovation and speed determines the
company's development. As a result the Droege Group AG has
successfully positioned itself within the market, both nationally
and internationally and operates in 30 countries. More information:
https://www.droege-group.com
DisclaimerThis press release contains
forward-looking statements which are based on current assumptions
and forecasts of the ALSO management. Known and unknown risks,
uncertainties, and other factors could lead to material differences
between the forward-looking statements made here and the actual
development, in particular the results, financial situation, and
performance of our Group. The Group accepts no responsibility for
updating these forward-looking statements or adapting them to
future events or developments.
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