(RTTNews) - freenet AG (FNTN.DE, FRTAF), a German network-independent telecommunications provider, on Monday announced that it has placed a promissory note loan with a total volume of 350 million euros.
The move is primarily to refinance bridge financing used for the acquisition of mobilezone Deutschland.
The company said that the transaction saw strong investor demand with the order book oversubscribed several times.
The pricing was achieved at the lower end of the marketing margin.
The financing consists of three tranches, including 104 million euros with a three-year maturity at a margin of 1% per annum, 221 million euros with a five-year maturity at 1.20%, and 25 million euros with a seven-year maturity at 1.40%.
The tranche structure is split almost equally between fixed and variable interest rates, providing a balanced and diversified financing profile.
The company said the transaction strengthens its long-term funding base and reflects strong investor confidence in its strategy and financial stability.
On Friday, freenet closed trading 0.73% higher at EUR 27.54 on the XETRA.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
