McDermott Advises DZ Bank AG on the Issuance of Mandatory Convertible Bonds by Schaltbau Holding AG


Frankfurt, April 7, 2021 – McDermott Will & Emery has advised DZ Bank AG as initial subscriber and agent in connection with the issuance of convertible bonds with conversion obligation at maturity by Schaltbau Holding AG.

Within the scope of a public offering, Schaltbau Holding AG offers its shareholders the subscription of mandatory convertible bonds with a total nominal volume of €60 million. The 60,000 bonds of €1,000 each offered thereby mature on 30 September 2022 and will be convertible into a total of up to 2,068,965 shares of the Company at an initial conversion price of €29.00 per share. Any mandatory convertible bonds not subscribed after the subscription period will be acquired by various investors who have secured the full placement of the Mandatory Convertible Bonds by way of a pre-placement agreement with a claw back feature.

Schaltbau Holding AG is a leading international supplier of systems and components in the field of transportation technology and the capital goods industry with an annual revenue of €500 million and around 3,000 employees.

The McDermott team advising DZ Bank AG was led by corporate partner Simon Weiß included counsel Philipp von Ilberg, partner Joseph W. Marx and associate Christoph Schäfer.

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