New energy with VARTA
BayernLB

New energy with VARTA AG

BayernLB issues Schuldschein for market leader in battery technology

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BayernLB has teamed up with HSBC and UniCredit and issued a Schuldschein for VARTA AG that closed at EUR 250 million.

The issue went to market with a term sheet volume of EUR 150 million. The order book shot up right at the start and then held very steady. The transaction, which was more than four times oversubscribed and featured mostly a seven-year term, was finalised just a week after its market debut.

The deal was linked to VARTA AG’s ESG rating issued by Morningstar Sustainalytics, a leading independent ESG and corporate governance research, rating and analysis firm. The Schuldschein spread can change as VARTA’s ESG rating changes.

Christian Link, who oversaw the issue from BayernLB’s Corporates Debt Capital Markets Origination department, summed up the investors’ interest as follows: “The ESG feature had a very positive impact on demand and was well received by the market”. The success of the transaction is testimony to BayernLB’s leading capital market expertise and strong positioning in the sustainability arena.

VARTA AG produces and markets a comprehensive battery portfolio ranging from microbatteries, household batteries and energy storage systems to customised battery solutions for a variety of applications, and sets the industry standards as a technology leader in key areas. As the group parent company it operates in the business segments “Lithium-Ion Solutions & Microbatteries” and “Household Batteries”. The group currently employs approximately 4,800 staff. With five production and manufacturing facilities in Europe and Asia, in addition to distribution centres in Asia, Europe and the US, VARTA AG’s operating subsidiaries are currently active in over 75 countries.