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Fraport AG successfully places promissory note

Fraport AG successfully places promissory note
Written by Harry S. Johnson

Fraport AG has successfully placed a promissory note with six tranches and a total volume of €250 million with investors. Originally, an issue volume of only €150 million with terms of three, six, and eight years had been planned. As a result of high demand for the note, including for longer terms, and significant oversubscription, another two tranches with terms of ten and twelve years were issued and the total volume of the promissory note was increased. The issue took place at the lower end of the price range. 

“In this still highly volatile market environment, we have once again enhanced our liquidity position after placing the euro benchmark bond in July,” says Dr. Matthias Zieschang, CFO of Fraport AG. “The financing raised this year has thus increased to around €2.7 billion. With cash and committed lines of credit of over €3 billion, we are particularly well equipped to deal with the current crisis while also investing in the future of our company to the necessary extent.”

Bayerische Landesbank and Landesbank Baden Württemberg acted as joint lead arrangers.