Rheinmetall €1bn convertible bonds (2028 and 2030 series)
- Issuer or borrower
- Rheinmetall
- Date
- 31 Jan 2023
- Amount
- €1bn
- US$ equivalent
- US$1.1bn
- Type
- Convertible
- Structure
- Two €500m series of senior unsecured convertible bonds due 7 February 2028 and 7 February 2030
- Pricing
- 2030 series: 2.25% coupon, conversion price €309.90 (45% premium)
- Purpose
- A significant share of the Expal Systems acquisition, plus general corporate purposes
- Country
- Germany
Sources
- Rheinmetall ad hoc: successfully places EUR 1 billion convertible bonds rheinmetall.com · 31 Jan 2023
- Rheinmetall investor relations: convertible bonds rheinmetall.com
Checked against the documents above. Record DEF-2023-0001.
Other financings by Rheinmetall
| Date | Financing | Type | Amount |
|---|---|---|---|
| 8 Oct 2026 | Rheinmetall €1.5bn syndicated revolving credit facility | Bank facility | €1.5bn |
| 28 May 2026 | Rheinmetall €500m senior bond due 2031 | Bond | €500m |
M&A and investment involving Rheinmetall
| Date | Deal | Type | Value |
|---|---|---|---|
| 1 Mar 2026 | Rheinmetall acquisition of NVL (Naval Vessels Lürssen) | M&A | Not disclosed |
| 29 Nov 2024 | Rheinmetall acquisition of Loc Performance Products | M&A | US$950m |
| 1 Aug 2023 | Rheinmetall acquisition of Expal Systems | M&A | €1.2bn |
