ALSO strengthens financing structure with successful placement of promissory note (Schuldscheindarlehen)

ALSO strengthens financing structure with successful placement of promissory note (Schuldscheindarlehen)

• Strong demand leads to significant oversubscription
• Volume of EUR 250 million with maturities from 3.5 to 7 years
• Broad financial support for growth strategy

ALSO Holding AG (SIX: ALSN) has successfully placed a promissory note (Schuldscheindarlehen) of EUR 250 million in the market. The transaction, which was initially launched with EUR 100 million, was significantly oversubscribed due to high demand.

The loan comprises three tranches with maturities of 3.5, 5, and 7 years, each with fixed or variable interest rates. For the variable-rate tranches, ALSO will use interest rate swaps to hedge into long-term fixed rates to sustainably stabilize financing costs.

The placement was executed on terms at the lower end of the price range — a result of the strong demand and the attractive market environment. A total of 26 international banks, cantonal banks, regional state banks, and savings banks participated in the transaction. The transaction was arranged by Deutsche Bank and Landesbank Hessen-Thüringen.

“With this transaction, we are optimizing the long-term balance sheet structure and refinancing the bridge financing for Westcoast,” explains Wolfgang Krainz, CEO of ALSO Holding AG. “The strong demand confirms our investors’ confidence in the ALSO business model and our strategic direction, which includes both organic growth and targeted acquisitions.”
Contact ALSO Holding AG
Kilian Maier
E-Mail: kilian.maier@also.com
ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) is Europe’s largest technology provider for the ICT industry, currently active in 31 European countries and in many countries worldwide via PaaS partners. The ALSO ecosystem comprises a total potential of more than 135,000 resellers, to whom we offer hardware, software and IT services from more than 800 vendors in over 1,570 product categories. In the spirit of the circular economy, the company provides all services from provision to remanufacturing from a single source. The business activities comprise the areas of Supply, Solutions and Service. Supply stands for the transactional provisioning of hardware and software. Solutions supports customers in the development of customised IT solutions. Subscription-based cloud offerings as well as digital platforms for IoT, cybersecurity, virtualisation and AI are at the heart of the Service division. The main shareholder is the Droege Group, Düsseldorf, Germany. Further information can be found at  https://also.com.

The Droege Group (founded in 1988) is an independent investment and consulting firm under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group invests its own equity in “special opportunities” with a focus on medium-sized companies and spin-offs as well as strategically in buy & build transactions. With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on long-term oriented megatrends. Enthusiasm for quality, innovation and speed determines the company’s actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. Further information can be found at https://droege-group.com.

Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.