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September 2, 2014

REWE Group completes German Private Placement of 175 million euros

REWE Group has successfully concluded the first German Private Placement of 175 million euros in the form of a promissory note loan.

Through the fixed interest transaction with a term of 10 years, REWE Group strengthens its financial foundations for implementing its strategy and secures historically low interest rates with a fixed coupon.

The issuance of the promissory note loan was developed as a club deal in cooperation with Allianz and placed in Germany with a selected group of investors comprising insurance companies and pension funds. This innovative financing was supported by HSBC bank.

"This transaction is an important step in our financing strategy", said Dr. Christian Mielsch, CFO of REWE Group. "We were able to broaden our investor base and have increased our long-term financing capacity. Of course, we are also proud to be pioneers when it comes to financing, as REWE Group was the first to conclude a German Private Placement.”

Dr. Klaus Wirbel, CFO at REWE Group, is more than satisfied with the result. "As with the reissuing of the syndicated loan last year, we have used the favourable market environment for this German Private Placement and were able to achieve attractive conditions for the next 10 years.”

The cooperative REWE Group is one of the leading trade and tourism groups in Germany and Europe. In 2013, the company generated a total external turnover of around 51 billion euros. REWE Group, founded in 1927, operates 15,000 stores with 330,000 employees in 12 European countries. In 2013, around 226,000 employees generated sales totalling 36 billion euros in about 10,000 stores in Germany.

Our sales lines include supermarkets and consumer stores under the REWE, REWE CENTER, REWE CITY and BILLA brands, the PENNY discounter brand, toom Baumarkt DIY stores and B1 Discount DIY stores. Under the umbrella of DER Touristik, travel and tourism includes the tour operators ITS, Jan Reisen and Tjaereborg, as well as Dertour, Meier’s Weltreisen and ADAC Reisen, and the business travel division FCm Travel Solutions with over 2,100 travel agencies (including DER Reisebüro, DERPART), and the hotel chains lti hotels, Club Calimera and PrimaSol Hotels, and the direct tour operator