The subscription for the Golfino AG bond (ISIN DE000A1MA9E1) – which is to be included in the Entry Standard – ended on its very first day. The subscription was originally supposed to run until 3 April. But the total volume of 12 million was already able to be placed on the market by late morning on the first day of subscription.
The bond runs until April 2017 and has an interest rate of 7.25 percent.
Trading is planned to commence on 20 March 2012. Applicant and specialist is Close Brothers Seydler Bank AG.
“The Golfino AG bond will be the fourth corporate bond this year to join the Entry Standard,” said Barbara Georg, Head of Listing & Issuer Services at Deutsche Börse. “Bonds in the Entry Standard are a good financing alternative particularly for SMEs. In the Entry Standard, Deutsche Börse places no demands regarding company size, sector or minimum bond volume.”
“With the proceeds from the issue we plan to invest in opening additional stores, expanding our already successful online business and expanding in the growth markets Asia and North America. We also intend to redeem loans and an existing mezzanine finance arrangement, as well as to strengthen liquidity,” said Dr Bernd Kirsten, co-founder and co-owner of Golfino AG.
According to company sources, Golfino is a vertically integrated clothing manufacturer, focusing on golf and leisurewear. Golfino designs, produces and sells ladies’, men’s and children’s clothing, especially golf wear.