Karlsberg Brauerei GmbH Announces New Bond Issue and Exchange Offer

Karlsberg Brauerei GmbH revealed its decision to issue a new corporate bond while also extending an exchange offer to the holders of its 2020/2025 bond. This strategic move aims at refinancing its existing bond ahead of its maturity. Scheduled under the legal framework of Norwegian law, the new bond, bearing a term from 2024 to 2029, is poised to have an issuance volume of EUR 50 million, offering a fixed annual interest rate between 6.00% and 7.00%.

This financial initiative involves a public offer in both Germany and Luxembourg, augmented by a voluntary exchange offer providing a multiple purchase option for the existing 2020/2025 bondholders. The anticipation surrounds the securities prospectus's approval by Luxembourg's Commission de Surveillance du Secteur Financier (CSSF), with subsequent publication on Karlsberg’s website.

The funds garnered from this bond issuance are earmarked for the early redemption of the 2020/2025 bond with a total nominal value of EUR 50 million, establishing a call option price at 101% since September 30, 2023. This announcement sets the stage for a strategic financial reshuffling, aiming at optimizing Karlsberg Brauerei GmbH’s financial structure and fostering continued growth.