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FRANKFURT - grenke Finance PLC has completed its €500 million short 5-year senior unsecured bond issue without requiring stabilisation measures, according to a statement released Friday by Deutsche Bank AG (ETR:DBKGn).
The bond was priced at 98.710% with a spread of 338.8 basis points over the benchmark OBL 2.4 04/30, the bank said in a post-stabilisation notice.
Deutsche Bank AG, acting as stabilisation manager alongside Goldman Sachs Bank Europe SE and HSBC, confirmed that no stabilisation actions were undertaken for the securities. Stabilisation typically refers to market interventions aimed at supporting the price of newly issued securities.
The bond, guaranteed by grenke AG, carries the ISIN code XS3080684551.
The securities have not been registered under the United States Securities Act of 1933 and are not being offered for sale in the United States, according to the press release statement.
grenke Finance PLC is a subsidiary of grenke AG, a German-based provider of financial services primarily focused on leasing IT products and other equipment to small and medium-sized enterprises.
The bond issuance represents part of the company’s ongoing financing strategy. The transaction was managed by Deutsche Bank, Goldman Sachs Bank Europe SE, and HSBC as joint bookrunners.
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