Capital News

Deutsche EuroShop completed the financing of its twentieth shopping centre on 13 November, taking in €167,700,000 via a convertible bond and a capital increase. The shopping-centre operator placed convertible bonds with a maturity of five years and a total nominal value of €100 million with investors. The Group also placed a capital increase of 2,314,136 shares. The papers were issued at €29.25, close to the current market price, while the subscription rights of existing shareholders were excluded.

Südzucker has again seized the opportunities in the capital markets, and as previously announced bought back a convertible bond and made a capital increase to get funding. The food group placed 14,618,269 new shares from authorized capital and around 0.58 million of its own shares under the so-called accelerated bookbuilding process on 21 November. The issue price was €29.70 per share. The gross proceeds from the offering will total around €451 million. In parallel, a €268.5 million convertible bond was redeemed at 182.5 percent of the nominal amount, i.e. 490 million euros, using the proceeds of the capital increase.