Hengeler Mueller advises Grammer AG on mandatory convertible bond

16. February 2017


Grammer AG (Amberg), a leading supplier of automotive interior and seating systems, and Ningbo Jifeng Auto Parts Co., an international automotive component supplier, specializing in interior parts, announced their joint intention to form a strategic partnership on 14 February 2017. As part of the partnership, an associated company of Ningbo Jifeng has subscribed to a mandatory convertible bond representing approximately 9.2% of the share capital of Grammer, issued under the exclusion of subscription rights. The total proceeds to Grammer from the issuance will be EUR 60 m.

Hengeler Mueller advised Grammer AG on the issuance of the privately placed mandatory convertible bond. The Hengeler Mueller team was led by partner Ralph Defren (Finance/Capital Markets) and included partner Alexander Rang (Capital Markets) (both Frankfurt) as well as associates Henning Hilke and Till Hiemenz-Müller (both Banking and Capital Markets, Frankfurt).