on Freenet AG (ETR:FNTN)
Freenet AG Secures EUR 350 Million Promissory Note Loan Amid Strong Demand
Freenet AG has successfully secured a EUR 350 million promissory note loan, intended primarily to repay bridge financing for the acquisition of mobilezone Deutschland. The loan placement, led by Bayerische Landesbank, Landesbank Baden-Württemberg, and UniCredit Bank GmbH, was oversubscribed multiple times, indicating strong investor confidence. This loan consists of three tranches with maturities of 3, 5, and 7 years, offering interest margins of 1.00%, 1.20%, and 1.40% per annum, respectively.
The transaction underscores investor trust in Freenet AG's strategic direction and stable financial standing. Ingo Arnold, CFO of freenet AG, highlighted the high demand and oversubscription as signs of confidence in the company’s future financial strategy. By successfully refinancing the bridge loan, Freenet AG strengthens its long-term financial foundation.
R. E.
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