Rocket Internet €550 million convertible bond issue

14/7/2015
Convertible and hybrid securities

€ 550 million

Completed

14/7/2015


Overview:

  • German technology start-up Rocket Internet issued €550 million in convertible bonds.
  • The bonds, which were sold to institutional investors, have a coupon of 3%, mature in July 2022, and are listed on the Frankfurt Stock Exchange . 
  • The initial conversion price was around €48 per share, which represented a 35% premium on Rocket's share price at the time.  
  • JPMorgan was bookrunner on the transaction.

Ben Naylor - Regional Editor

Jurisdiction:

Germany

Deal type:

Convertible and hybrid securities

Practice area:

Capital markets : Debt

Industry sector:

Technology and telecommunications


Firms:

Party: JPMorgan Chase (Underwriter)


Party: Rocket Internet AG (Issuer)

Lawyer: Carsten Berrar