Germany : Software of Germany Seeks 150 Million-Euro Schuldschein Loan.Byline: babalu03 Software AG, Germany s second- largest software maker, said it plans to raise 150 million euros ($214 million) from a three-year loan. The transaction will be structured as a Schuldschein, a promissory note promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. issued privately under German law, said Paul Hughes Paul Hughes (born 19 April 1976 in Hammersmith) is a retired English footballer who played in midfield. Hughes began his career with his local side, Chelsea, and started well, scoring on his debut again Derby County with an impressive solo effort. , a spokesman for the Darmstadt, Germany-based borrower. The loan will pay interest of about 2.75 percentage points to 3.25 percentage points more than benchmark rates, said Hughes. Participants have the option of receiving fixed- or floating-rate interest payments, said Hughes. Fixed-rate interest will be paid annually based over the mid-swap rate, while floating-rate payments will be made each quarter and will be benchmarked against the euro interbank in·ter·bank adj. Relating to, involving, or connecting two or more banks: interbank borrowing; an interbank network of automated teller machines. offered rate, or Euribor, he said. HVB HVB Hervey Bay, Queensland, Australia (Airport Code) HVB Hawaii Visitors Bureau HVB Central-European International Bank (Hungary) HVB High Volume Breeder (puppy mill) Group, Commerzbank AG, and Landesbank Hessen-Thueringen Girozentrale are arranging the unsecured loan Unsecured Loan A loan that is issued and supported only by the borrower's creditworthiness, rather than by some sort of collateral. Notes: Generally, a borrower must have a high credit rating to receive an unsecured loan. . The proceeds will help Software pay for acquisitions and refinance debt. The borrower plans to meet with potential lenders in Frankfurt Aug. 27 before setting the interest on the transaction Sept. 18, said Hughes. Software has already raised 340 million euros from syndicated loans to fund its takeover offer for technology services provider IDS Scheer AG, the company s banks said in a statement Aug. 6. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion