Noerr advises Underberg on successful placement of € 35m corporate bond

A Noerr team led by Dominik Kloka and Jens M. Göb has once again advised its long-standing client Semper idem Underberg AG on the successful placement of a corporate bond with a total volume of €35m.

The new bond issued by the premium spirits company, featuring a six-year term and an annual coupon rate of 5.75%, was significantly oversubscribed by investors. The net proceeds will be used to repay the outstanding 2019/2025 bond in full, thereby further continuing Semper idem Underberg AG’s extensive refinancing and debt reduction strategy.

The notes were offered in a public offering in Germany, Luxembourg and Austria, complemented by a private placement by German bank IKB Deutsche Industriebank as the sole lead manager and bookrunner, targeting institutional investors in selected European countries. The transaction also included a voluntary exchange offer including an additional purchase option for holders of the existing 2019/2025 bond. Investors were also able to subscribe to the new bond directly via the issuer’s website for the first time.

Through this transaction, our firm’s Debt Capital Markets (DCM) team was once again able to demonstrate its depth of expertise in the field of SME bonds. Our team has been advising Semper idem Underberg AG for many years on capital markets and corporate issues and on the issuance of corporate bond.

Advisors to Semper idem Underberg AG: Noerr Partnerschaftsgesellschaft mbB

Dominik Kloka (partner), Jens M. Göb (senior associate, joint lead, Capital Markets, Frankfurt)

Capital Markets

Laurenz Wieneke (partner), Thomas Thies (senior associate), Sebastian de Schmidt (counsel, all Frankfurt)

Corporate

Alexander Hirsch (partner), Daniel Roth (senior associate, both Düsseldorf)

Data Privacy

Henrike von dem Berge (senior associate), Johannes Stuve (associate, both Berlin)

Digital Business / Consumer Protection

Tom Billing (partner, Berlin)

Sanctions

Bärbel Sachs (partner), Theresa Bachmann (senior associate, both Berlin)