Lenzing AG Successfully Places EUR 500 Million Hybrid Bond
The Lenzing Group, a global leader in regenerated cellulose fibers for the textile and nonwovens industries, has successfully placed a new hybrid bond totaling EUR 500 million, significantly exceeding the initial target of EUR 300 million.
The bond carries an annual coupon of 9.0%, priced at the lower end of the indicated 9.0–9.5% range, and comes with a non-call period of three years. It was offered to both existing investors of the 2020 hybrid bond and new institutional participants, receiving strong market demand.
“This successful issuance marks another important step in our proactive capital structure management, following the EUR 545 million syndicated loan secured in May,” said Nico Reiner, CFO of the Lenzing Group. “With this, we’ve essentially secured our financing through 2027 and can focus on enhancing margins and free cash flow.”
The bond will be settled on July 9, 2025. BNP Paribas and UniCredit acted as Global Coordinators and Lead Dealer Managers, with Commerzbank, Erste Group, J.P. Morgan, and Raiffeisen Bank International as Joint Bookrunners.
