The Pan-European distributor for plastics and specialty chemicals Biesterfeld, Hamburg, has successfully placed a € 45 m loan note. Biesterfeld AG issued the loan to finance its future growth and to diversify its financing structure.
“We are pleased that our first loan note issue has been met by the market with high interest. The excellent feedback and the large oversubscription of the envisaged loan amount of € 35 m is proof of confidence in our growth strategy”, explains Christian Wolfsohn, CFO of the Group.
As the loan note was oversubscribed by close to 100%, the allocated amount was raised by 30% over the initial target.
The loan note was arranged by HSH Nordbank AG, Hamburg, with durations of optionally 4 and 6 years. Among the investors are mainly German and Austrian municipal and mutual savings banks, German Landesbanken, and private institutions.
Biesterfeld AG is the strategic holding company of the Biesterfeld Group with its 100 year tradition in the chemicals business. The company is one of the leading enterprises in chemicals and polymer distribution with over 50 locations worldwide in Germany, Europe, the Americas, as well as in Asia. The family owned company will continue to focus on steady profitable growth within their core business divisions Plastics, Specialty Chemicals and International.
Biesterfeld AG successfully places € 45 million loan note