Stabilus Replaces Bridge Financing for Destaco Acquisition with €250 Million Promissory Note

Stabilus SE has announced the successful issuance of a €250 million promissory note to replace its bridge financing for the Destaco acquisition. The newly signed agreement involves a promissory note structured in four tranches with maturities of three and five years, each offering attractive fixed and variable interest rates.

The funds from this promissory note will be disbursed on September 27, 2024, ensuring that Stabilus is fully financed for the next three years. The transaction saw a high level of investor interest, resulting in significant oversubscription.

Stabilus' CFO, Stefan Bauerreis, highlighted the favorable conditions secured through this issuance and emphasized the company's strategy to reduce net debt and lower its net leverage ratio in the coming quarters. As of June 30, 2024, Stabilus' net leverage ratio stood at 2.8.

The promissory note issuance was organized by Landesbank Baden-Württemberg and Commerzbank AG, attracting over 30 participating investors from both German and international financial institutions.