JDC Group AG Successfully Issues EUR 70 Million Bond

JDC Group AG has announced the successful placement of a senior secured floating rate bond, amounting to EUR 70 million. The bond, issued under Norwegian law, carries an interest rate pegged to the three-month EURIBOR plus a margin of 4.5% per annum. It has a term of four years and might be expanded to a total volume of up to EUR 160 million.

The bond is secured by pledging shares in significant Group companies and assigning intra-group loans. The offering was well-received, significantly oversubscribed by institutional investors. Pareto Securities AS managed the placement.

Proceeds from the bond will finance the acquisition of a 60% stake in FMK Compare GmbH and HVG Hanse GmbH by Jung, DMS & Cie. AG, a JDC Group subsidiary. Trading of the bonds is expected to occur on Euronext ABM and the Frankfurt Stock Exchange.