- Strong interest and significantly oversubscribed order book: New EUR 300 million bond with a term of four years and four months
- High level of confidence in the company’s operational and financial strength: The transaction was only the second unrated bond issue by a German corporate in 2023, after unrated issuers were largely absent in the previous year
- Following growth in revenue of more than one-third in 2022 and close to 20% in the first quarter of 2023: Issue proceeds strengthen basis for further growth
Pullach, 12 June 2023 – Sixt SE has successfully placed a bond (ISIN: DE000A351WB9/WKN: A351WB) with a volume of EUR 300 million. The very strong interest as well as the significantly oversubscribed and granular order book once again demonstrates the high confidence of the capital market in the operational and financial strength of the Sixt Group.
SIXT is using the bond to refinance maturities ahead of schedule, which are not due until February 2024, and at the same time strengthens the basis for a continuation of its growth course – following a 34.3% increase in revenue in financial year 2022 and growth of 19.7% in the first quarter of 2023 (compared to the same quarter of the previous year).
The new bond has a maturity of four years and four months and carries an interest coupon of 5.125% p.a. This is Sixt SE’s second transaction under the newly launched “Debt Issuance Programme,” which allows the company to place bonds at short notice. Due to the denomination of the nominal amount in 1,000 euros, private investors can also purchase the bond.
The Joint Lead Managers of the issue were BNP Paribas, Commerzbank, Deutsche Bank and SEB.
“The high demand and the successful placement – particularly considering the current tense capital market environment – demonstrate the excellent standing that SIXT has acquired as a financially strong company, even without an external rating. The bond is a further component of our diversified financing portfolio and strengthens the basis for continued growth in the future,” explained Dr. Franz Weinberger, Head of Corporate Finance at Sixt SE.
Sixt SE with its registered office in Pullach near Munich, is a leading international provider of high-quality mobility services. With its products SIXT rent, SIXT share, SIXT ride and SIXT+ on the mobility platform ONE the company offers a uniquely integrated premium mobility service across the fields of vehicle and commercial vehicle rental, car sharing, ride hailing and car subscriptions. The products can be booked through the SIXT app, which also integrates the services of its renowned mobility partners. SIXT has a presence in more than 100 countries around the globe. The company stands for consistent customer orientation, a lived culture of innovation with strong technological competence, a high proportion of premium vehicles in the fleet and an attractive price-performance ratio. In 2022, the Sixt Group achieved a record consolidated pre-tax earnings of EUR 550 million and a significant increase in consolidated revenues to EUR 3.07 billion. Sixt SE has been listed on the Frankfurt stock exchange since 1986 (ISIN ordinary share: DE0007231326, ISIN preference share: DE0007231334).