News › JENOPTIK • suc­cessfully places 400 mil­lion euro deben­ture bond

Jen­op­tik has suc­cessfully pla­ced a deben­ture bond with sus­taina­bi­lity com­pon­ents on the capi­tal mar­ket. The tran­sac­tion was signi­fi­cantly over­sub­scri­bed, the ori­gi­nally plan­ned pla­ce­ment volume was dou­bled from 200 mil­lion euros to 400 mil­lion euros. The funds give the tech­no­logy group room for mano­eu­vre for acqui­si­ti­ons and invest­ments in its pho­to­nics core business.

Great demand from investors

“There was con­sidera­ble inte­rest on the capi­tal mar­ket,” says CFO Hans-Die­ter Schu­ma­cher, sum­ma­ri­zing the tran­sac­tion. “Par­ti­cu­larly plea­sing was the high demand from inves­tors who had not pre­viously par­ti­ci­pa­ted in deben­ture bond pla­ce­ments by Jen­op­tik. This shows that inves­tors have great con­fi­dence in our com­pany,” said Schu­ma­cher. The issue took place at the lower end of the respec­tive inte­rest rate range. The deben­ture bond was sub­scri­bed to by more than 250 insti­tu­tio­nal inves­tors – such as savings banks, cre­dit uni­ons and inter­na­tio­nal cre­dit institutions.

Sus­taina­bi­lity components

“We are obser­ving that more and more inves­tors want to invest their money sus­tain­ably. With this deben­ture bond, we have ope­ned up an attrac­tive oppor­tu­nity for inves­tors to do so,” says the Jen­op­tik CFO. For this reason, three dif­fe­rent ESG indi­ca­tors are inte­gra­ted into the deben­ture bond, which address the topics of envi­ron­ment, social affairs and cor­po­rate gover­nance. Jen­op­tik has set its­elf spe­ci­fic mea­sura­ble tar­gets for sus­taina­bi­lity in the sup­ply chain, the group-wide pro­por­tion of green elec­tri­city and the diver­sity of its manage­ment team. Jen­op­tik recei­ves a small inte­rest advan­tage if all three tar­gets are achie­ved; con­ver­sely, a malus must be accepted if less than two of the three tar­gets are achieved.

“Our under­stan­ding of sus­taina­bi­lity is based on the belief that we can only achieve our eco­no­mic goals and thus per­ma­nently pro­fi­ta­ble growth by acting respon­si­bly. The ESG-tar­gets lin­ked to the deben­ture bond are the­r­e­fore also an inte­gral part of our cor­po­rate stra­tegy,” sum­ma­ri­zes the CEO Dr. Ste­fan Traeger.

Dif­fe­rent matu­ri­ties, cur­ren­cies and value dates

The deben­ture bond com­pri­ses seve­ral tran­ches with matu­ri­ties of five, seven and ten years, which were issued not only in euros but also to a les­ser ext­ent in US dol­lars and pre­do­mi­nantly with an initial value date of Sep­tem­ber 30, 2021, six months in the future. Inves­tors from Ger­many and abroad were offe­red both fixed and varia­ble inte­rest rate opti­ons. The attrac­tive con­di­ti­ons reflect the Jen­op­tik Group’s very good cre­dit rating, which cor­re­sponds to an invest­ment grade rating.

“Fol­lo­wing the com­ple­tion of these capi­tal mea­su­res, we will once again have a very solid, long-term and broad-based finan­cing base. The increase in debt is within a very reasonable range, and our balance sheet remains healthy, as the equity ratio of around 50 per­cent shows,” says the CFO, sum­ma­ri­zing the new group financing.

Clas­sic and digi­tal marketing

The tran­sac­tion was arran­ged by BNP Pari­bas, DZ BANK and Lan­des­bank Hes­sen-Thü­rin­gen Giro­zen­trale. In addi­tion, it was mar­ke­ted via the digi­tal debt finan­cing plat­form VC Trade, where com­pa­nies can offer their deben­ture bonds effi­ci­ently and trans­par­ently to a broad inves­tor base.

About Jen­op­tik

Opti­cal tech­no­lo­gies are the very basis of our busi­ness: Jen­op­tik is a glo­bally active tech­no­logy group and is active in the three pho­to­nics-based divi­si­ons: Light & Optics, Light & Pro­duc­tion and Light & Safety. Under the TRIOPTICS brand, Jen­op­tik also offers opti­cal test and manu­fac­tu­ring sys­tems for the qua­lity con­trol of len­ses, objec­ti­ves and camera modu­les. VINCORION is the brand for our mecha­tro­nic busi­ness. Our key tar­get mar­kets pri­ma­rily include the semi­con­duc­tor indus­try, medi­cal tech­no­logy, auto­mo­tive and mecha­ni­cal engi­nee­ring, traf­fic, avia­tion as well as secu­rity and defense tech­no­logy indus­tries. More than 4,400 employees work for Jen­op­tik world­wide. The Group’s head­quar­ters are in Jena (Ger­many). JENOPTIK AG is lis­ted on the Ger­man Stock Exch­ange in Frank­furt and is included in the SDax and TecDax. In the 2020 fis­cal year, Jen­op­tik gene­ra­ted reve­nue of approx. 767 mil­lion euros accor­ding to preli­mi­nary figures.

Kon­takt

Les­lie Iltgen
Head of Inves­tor Rela­ti­ons & Cor­po­rate Communications
+49 3641 65–2291
moc.kitponej@negtli.eilsel