RENK €200m add-on senior secured notes due 2025
Part-finance the acquisition of L3Harris Technologies' combat propulsion systems business and L3 Magnet-Motor GmbH, plus fees and costs
Key terms
- Borrower or issuer
- RENK Group
- Date
- 21 Jun 2021
- Type
- Bond
- Amount
- €200m (US$237m)
- Pricing
- 5.75% fixed
- Maturity
- 2025
Recorded terms
- Structure
- Add-on senior secured notes issued by RENK GmbH under the existing 13 July 2020 indenture, taking the series to €520m
- Country
- Germany
Parties
- RENK Group borrower or issuer
Similar financings
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|---|---|---|---|
| 15 Jun 2021 | Saab SEK 100m tap of the FRN due 2027 (MTN 124) | Bond | SEK 100m |
| 7 Jun 2021 | Booz Allen Hamilton US$500m 4.000% senior notes due 2029 | Bond | US$500m |
| 7 Jul 2021 | Elbit Systems NIS 1.9bn notes (Series B, C and D) | Bond | ILS 1.9bn |
| 6 Aug 2021 | RTX (Raytheon Technologies) US$2,000m senior notes (2 tranches) | Bond | US$2bn |
| 5 May 2021 | General Dynamics US$1,500m senior notes (3 tranches) | Bond | US$1.5bn |
More from RENK Group
| Date | Financing | Type | Amount |
|---|---|---|---|
| 28 Jul 2026 | RENK €1.05bn unsecured syndicated financing (2026) | Bank facility | €1.05bn |
| 20 Feb 2024 | RENK €1,050m bank financing refinancing the 2025 notes | Bank facility | €1.05bn |
| 13 Jul 2020 | RENK €320m senior secured notes due 2025 | Bond | €320m |
M&A and investment involving RENK Group
| Date | Deal | Type | Value |
|---|---|---|---|
| 7 Feb 2024 | Renk IPO by private placement (Frankfurt) | IPO | €450m |
Sources
- RENK GmbH press release No. 5/2021: RENK announces launch of new notes marketscreener.com · 21 Jun 2021
- RENK Group AG corporate news (EQS): successful refinancing and rating upgrade webdisclosure.com · 27 Feb 2024
About this record
Record DEF-2021-0032, taken from an issuer, lender or government announcement. Confirmed against the primary documents listed. Amounts are as announced; US$ equivalents use approximate annual average exchange rates. Spotted an error or have a document we have missed? Send a correction, and changes are logged on Updates and corrections.
Read the structure
Senior notes are unsecured promises to pay, priced off government bonds; the prospectus sets the covenants, the change-of-control put and the redemption terms.
