Linklaters has advised the banking consortium on the successful placement of convertible bonds by K+S Aktiengesellschaft with an aggregate principal amount of €320 million. The bonds mature in 2031, bear interest at a rate of 0.625% per annum and are convertible into K+S shares.
The company intends to use the net proceeds to finance the recently announced acquisition of Qemetica’s salt business, for general corporate purposes and to optimise its financing structure.
The banking syndicate comprised Commerzbank AG, HSBC, LBBW and RBC Capital Markets.
The Linklaters team was led by Dr Alexander Schlee (Partner, Capital Markets, Frankfurt). Other team members included Catrin Retzmann (Managing Associate) and Tim Westenberger (Associate, both Capital Markets, Frankfurt).
Linklaters regularly advises corporates and investment banks on the placement of exchangeable and convertible bonds. Over the past year, the Capital Markets team led by Dr Alexander Schlee has, among others, advised AIXTRON SE, QIAGEN N.V., Salzgitter AG, TAG Immobilien AG and Vonovia SE on the issuance of convertible and exchangeable bonds, as well as the banking syndicate on convertible bond issuances by AT&S, Evotec SE, Deutsche Lufthansa AG, MTU Aero Engines AG and RedCare Pharmacy N.V.
