Elmos Semiconductor AG (FSE: ELG) has issued a promissory note loan totaling 40 million Euro. It is for general corporate financing purposes. It will also be used to repay loans of 35 million Euro maturing in 2017 and 2018.

The promissory note is divided into three tranches with five-, seven- and ten-year terms, each with a fixed interest rate. All tranches were significantly oversubscribed due to high investor demand.

“Elmos has secured long-term financing at attractive terms and substantially expanded its investor base. The strong interest in the seven- and ten-year tranches, which account for 70% of the loan’s volume, is proof of the capital market’s confidence in our business development,” says Dr. Arne Schneider, Chief Financial Officer of Elmos Semiconductor AG.

Landesbank Baden-Württemberg assisted with the deal in its role as sole lead manager.

About Elmos Semiconductor AG

Elmos develops, produces and markets semiconductors and sensors, primarily for use in the automotive industry. Our components communicate, measure, regulate and control safety, comfort, powertrain and network functions. For over 30 years, Elmos innovations have been bringing new functions to life and making mobility worldwide safer, more comfortable and more energy efficient.

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