Following the announcement by db Group’s financing arm SD Finance plc that its €30 million bond was fully subscribed to, the company has today issued its basis of acceptance.

The bonds were made available for subscription to three categories of investors:

1. Existing bondholders of the €65,000,000 4.35 per cent unsecured bonds 2027 issued by the Company in 2017;
2. Preferred applicants, which include Directors, employees and shareholders of companies forming part of the db Group, and
3. Authorised financial intermediaries participating through an Intermediaries’ Offer for any remaining balance not taken up by Preferred Applicants.

Applications from Preferred Applicants amounted to €21,237,500, all of which were allocated in full. The remaining €11,762,500 were allocated to a number of Authorised Financial Intermediaries through the Intermediaries’ Offer.

The €33 million unsecured bonds, carrying a coupon rate of 5.2 per cent and set to mature in 2031, are the first tranche of a wider €60 million bond issue.

The funds raised will largely be used to refinance intragroup debt.

Approximately €7 million will go towards the repayment, in full, of an intragroup loan in connection with the full acquisition of Porto Azzurro, while another €20 million will be used to
repay another intragroup loan related to the development of the St George’s Bay project.

The remaining €5.4 million will be used to general corporate funding purposes.

In a company announcement, the group said it “wishes to thank all applicants and Authorised Financial Intermediaries for their continued support and trust in the company.”