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Allen & Overy advises syndicate banks on placement of convertible bonds issued by Dürr AG

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Dr Knut Sauer

Partner

Frankfurt am Main

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Harald Klett
Harald Klett

Manager PR & Communications

Frankfurt am Main

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25 September 2020

Allen & Overy has advised a syndicate of banks comprising BNP Paribas, Landesbank Baden-Württemberg and UniCredit Bank AG as joint global coordinators and joint bookrunners on the successful placement of convertible bonds issued by Dürr AG, the mechanical and plant engineering firm based in Bietigheim-Bissingen.

The bonds carry a 0.75% coupon and are due for repayment in 2026. They were placed by way of an accelerated bookbuilding procedure and had a total volume of EUR 150 million.

Dürr AG intends to use the net issue proceeds from the transaction for general business purposes and in order to continue its acquisition strategy.

Allen & Overy's transaction team was led by partner Dr. Knut Sauer and also comprised senior associate Nadine Kämper (both ECM, Frankfurt).