Successful placement: Otto Group issues 300 million-euro bond

Hamburg, (PresseBox) - Otto Group, the globally active retail and services group, has successfully placed a bond issue totalling 300 million euros with a coupon of 1.875 per cent. The bond has a term of seven years.

By subscribing to this issue, capital market investors are confirming their trust in the future of the Otto Group. Following the positive financial result of the past 2016/17 financial year, in May the Otto Group presented its strategy and growth targets for the years to come.

"We recently placed a larger bond issue in the summer of 2016. Since then, overall capital-market conditions have once again clearly improved – and we have now moved to take advantage of these", says Petra Scharner-Wolff, Chief Financial Officer Otto Group. "We are pleased at the excellent reputation that the Otto Group enjoys on the capital market, and at the trust investors place in us."

The income from the bond placement can be used for a range of business purposes. These include pursuing the Group’s investment and growth strategy, as well as investment repayments for financial instruments coming to the end of their term. The bond was issued within the framework of the European Medium Term Note Programme (EMTN Programme), which the Otto Group has used since 2013 to secure a share of the company’s financing through bond placements. The group of companies has been active on the bond market since 2009.

Otto (GmbH & Co KG)

Founded in Germany in 1949, today the Otto Group is a globally operating retail and services group with around 49,750 employees. The Group includes 123 major companies and is present in over 30 countries in Europe, North and South America and Asia. Its business activities are grouped into three segments: Multichannel Retail, Financial Services and Service. In the 2016/17 financial year (to 28 February), according to preliminary calculation the Otto Group generated turnover of 12.5 billion euros. It is one of the world's largest online retailer. E-commerce, catalogue sales and over-the-counter retail form the three pillars of the Otto Group's Multichannel Retail strategy. Its worldwide corporate activities, numerous strategic partnerships and joint ventures provide the Otto Group with excellent opportunities to transfer know-how and leverage areas of synergy potential. Group companies operate largely independently, guaranteeing flexibility, customer proximity and optimum target-group appeal in their respective national markets.

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