MTU Aero Engines AG Secures €300 Million Promissory Note for Corporate Financing

MTU Aero Engines AG Secures €300 Million Promissory Note for Corporate Financing

(IN BRIEF) MTU Aero Engines AG has achieved a significant milestone by successfully placing a €300 million promissory note (Schuldschein), which garnered strong investor interest and was oversubscribed by two-and-a-half times. CFO Peter Kameritsch noted that due to the high demand, the original issue volume was increased from €200 million to €300 million. The promissory note comprises two tranches: €161 million with a three-year tenor and €139 million with a five-year tenor. The funds raised will be utilized for general corporate financing, with the majority of investors being savings banks and national and international banks. The funding was facilitated by Bayerische Landesbank and Landesbank Baden-Württemberg.

(PRESS RELEASE) MUNICH, 24-Apr-2024 — /EuropaWire/ — MTU Aero Engines AG has successfully placed a €300 million promissory note (Schuldschein). “We are delighted by the strong interest shown by investors. The offer was two-and-a-half times oversubscribed,” reports CFO Peter Kameritsch. In view of the high demand, the original issue volume was increased from €200 million to €300 million. The promissory note is divided into two tranches: €161 million with a tenor of three years and €139 million with a tenor of five years.

Kameritsch: “The funds will be used for general corporate financing.” Most of the approximately 50 investors are savings banks and national and international banks. The funding was arranged by Bayerische Landesbank and Landesbank Baden-Württemberg.

ABOUT MTU AERO ENGINES
MTU Aero Engines is Germany’s leading engine manufacturer. The company is a technological leader in low-pressure turbines, high-pressure compressors, turbine center frames as well as manufacturing processes and repair techniques. In the commercial OEM business, the company plays a key role in the development, manufacturing and marketing of high-tech components together with international partners. Some 30 percent of today’s active aircraft in service worldwide have MTU components on board. In the commercial maintenance sector the company ranks among the top 3 service providers for commercial aircraft engines and industrial gas turbines. The activities are combined under the roof of MTU Maintenance. In the military area, MTU Aero Engines is Germany’s industrial lead company for practically all engines operated by the country’s military. MTU operates a network of locations around the globe; Munich is home to its corporate headquarters. In fiscal 2023, the company had a workforce of over 12,000 employees and posted consolidated sales of nearly 6.3 billion euros.

Media Contact:

Eva Simon
Press Officer Finance
Phone: +49 (0)89 1489 4332
Cell: +49 (0) 176 100 841 62
eva.simon@mtu.de

SOURCE: MTU Aero Engines