EQS-News: Lenzing AG places new hybrid bond of EUR 500 million

• Successful placement significantly above the targeted minimum volume of EUR 300 mn
• Annual coupon of 9.0 percent at the lower end of the indicated range
• Sustainable strengthening of capital structure and secured financing through 2027

Lenzing – The Lenzing Group, a leading global supplier of regenerated cellulose fibers for the textile and nonwovens industries, has successfully placed a new hybrid bond with a volume of EUR 500 mn. The bond, which has a non-call period of three years, was offered to both existing investors of the hybrid bond issued in December 2020 and new investors.

Initially marketed with a minimum nominal amount of EUR 300 mn and a coupon range of 9.0 to 9.5 percent, the offering was well received by the market, allowing Lenzing to increase the volume to EUR 500 mn and price the bond at the lower coupon range with 9.0 percent.

“The successful placement of the new hybrid bond marks another milestone in the professional and forward-looking management of our capital structure, following the EUR 545 mn syndicated loan secured in May this year,” said Nico Reiner, CFO of the Lenzing Group. “With this step, we have essentially secured our financing through 2027 and can continue to fully focus on executing our successful performance program aimed at improving margins and free cash flow.”

The new hybrid bond has a settlement date on July 9, 2025. BNP Paribas and UniCredit acted as Global Coordinators and Lead Dealer Managers. BNP Paribas, Commerzbank, Erste Group, J.P. Morgan, Raiffeisen Bank International, and UniCredit were Joint Bookrunners on the transaction.
 

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