HAWE Hydraulik SE, in cooperation with BayernLB, which acted as sole lead arranger, has for the first time placed a significantly oversubscribed ESG-linked promissory note loan with a total volume of EUR 75 million with investors. Both fixed and variable tranches with maturities of 3, 5 and 7 years were subscribed. The linking of the financing conditions to the two ESG KPIs CO2 emissions and occupational accident frequency underlines the Group's sustainability claim.
Investor interest in the debut promissory bill was very high from the start of the issue and allowed HAWE to increase the promissory note volume from initially EUR 50 million to EUR 75 million due to a significant oversubscription of the order book. All promissory note tranches were priced at the lower end of the respective marketing range. The proceeds from the issue will be used for general corporate financing.
Robert Schullan, CEO of the HAWE Group: "Together with our business partners, we want to actively shape the future and contribute to a more sustainable world, use resources responsibly and be economically successful at the same time. This actively incorporates the ESG topics around environmental, social and governance issues. By linking our promissory bill transaction to corresponding sustainability criteria, it was important for us to clearly emphasize this once again.”
Sebastian Brand, CFO of HAWE Group: "As a debutant on the promissory note market, we are particularly pleased about the very high investor demand and the significant oversubscription of the initially targeted promissory note volume of EUR 50 million. The positive reception on the market, combined with an expansion of our investor base and a very high stability of the order book, is for us a clear sign of confidence in our corporate strategy, which aims to link environmental and social responsibility with long-term economic success.”