- 75 million euros with a term of up to 10 years via the digital platform finpair
- Use for corporate financing of the CLASSEN Group
- Great confidence of the investors in the sustainable corporate philosophy of CLASSEN
Kaisersesch. The CLASSEN Group, one of the world's leading manufacturers of floor coverings, successfully placed a promissory note via finpair's digital platform, which brokers promissory notes to interested investors. A loan volume of 50 million euros was initially planned. However, investor demand was so great that the issue was heavily oversubscribed and a promissory note with a total volume of 75 million euros was finally issued. One third of this could be used to extend existing maturities. CLASSEN plans to use the funds for general corporate financing and in particular for the expansion of its CERAMIN production.
Stefanie Quervel, Chief Financial Officer of the CLASSEN Group: "We are very pleased about the great interest of the investors. This shows the confidence they have in our company and our sustainable product philosophy. The renewed professional and result-oriented cooperation with finpair and their new digital platform helped us a lot to successfully place the promissory note with a fast and transparent process."
In addition to laminate flooring, one of CLASSEN's sustainable products is the plastic-based material CERAMIN. It is completely PVC-free and therefore contains no chlorine, stabilisers, phthalates or other plasticisers. It is also 100 percent recyclable and CLASSEN produces almost two thirds of the polymer content from material that has already been recycled.
Christian Müller, authorised signatory at finpair: "Promoting sustainable products is an important concern for us and our investors. That is why we are very pleased that we were able to support the CLASSEN Group with our experience and the advantages of processing via our digital platform. Our targeted advice has resulted in generating a long term and expanding the circle of investors."
The loan was placed with investors in all tranches at the lower end of the marketing range and provides CLASSEN Group with long-term liquidity with maturities of up to 10 years. The finpair digital platform provides a workflow-based approach to marketing during the issuance and enables full transparency throughout the process.
finpair is one of the leading platforms for promissory note loans based in Hanover. All relevant process steps, from the offer request to the repayment, are mapped completely digitally. finpair is the only platform in Germany to integrate a solution from Sustainable Finance and, with its connection to the Deka Bank platform, offers issuers one of the largest access points to lenders in the DACH region.
You can find out more about finpair here: https://www.finpair.de
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