Corporate news

to the archive

DEAG: New bonds of DEAG bond 2018/2023 oversubscribed several times

 

  • Early closing of the order book already this afternoon
  • Issue price expected to be 103.5 (±0.25%-points)
  • Pricing and Allocation on Tuesday, June 25

Berlin, 24 June 2019 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, listed in the Prime Standard, ISIN: DE000A0Z23G6, Ticker: ERMK, announces that due to the very positive response of institutional investors to the new bonds of DEAG bond 2018/2023, the order book will close this afternoon at 4:30 p.m. and thus earlier than announced. DEAG announced this morning that it would increase its bond 2018/2023 (ISIN: DE000A2NBF25) by EUR 5 million in a private placement and close the order book on Tuesday, June 25, 2019. The issue price of the new bonds is expected to be 103.50 % (±0.25 percentage points). Pricing and allocation will take place tomorrow, Tuesday morning, June 25, 2019.

The bond that bears interest at an annual coupon of 6.00% has a total volume of EUR 25 million following the successful increase. The proceeds from the issue will be used to finance growth in the core markets while simultaneously diversifying the financing structure.

“The response to our bond since October 2018 has been very positive. The price is well above par. With the increase to the maximum volume of EUR 25 million already specified in the documentation, we are now meeting the very high demand from institutional investors. At the same time, we are further strengthening our position in order to further advance our profitable growth strategy,” commented Prof. Peter Schwenkow, CEO of DEAG. Most recently, the company acquired stakes in C² CONCERTS, I-Motion GmbH and Michael Drieberg’s Swiss group of companies, giving it access to even more attractive markets.

The new bonds will be combined with the existing bonds after a transition period of 40 days. The company had mandated IKB Deutsche Industriebank AG, Düsseldorf (“IKB”) for the placement, the bank that had already accompanied the issue in October 2018.

About DEAG

DEAG Deutsche Entertainment Aktiengesellschaft (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of live entertainment events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform ‘MyTicket’ for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket. 

Founded in Berlin in 1978 and listed since 1998, DEAG’s core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG’s own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.

DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.

IR contact

cometis AG
Claudius Krause
Phone: +49-611-20585528
email: deag@cometis.de

Michael Diegelmann

Newsletter subscription

Contact

+49 611 205 855 0

(Mon. - Fri. 09.00 - 18.00)

Answer Mon. - Fri.

within 24 hours

Newsletter subscription

Including a free extract of our bestseller book

Michael Diegelmann
Henryk_Deter

Newsletter subscription

Contact

+49 611 205 855 0

(Mon. – Fri. 09.00 – 18.00)

Answer Mon. – Fri.

within 24 hours

Newsletter subscription

Including a free extract of our bestseller book