DGAP-News: MIFA: Successful corporate bond issue

DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Issue of Debt/Bond MIFA: Successful corporate bond issue 02.08.2013 / 15:43 --------------------------------------------------------------------- MIFA: Successful corporate bond issue Sangerhausen, August 2, 2013 - The Management Board of MIFA Mitteldeutsche Fahrradwerke AG has resolved today, with the approval of the Supervisory Board the issue of a EUR 25 million corporate bond with a five-year maturity and a 7.50% coupon. The bond was placed exclusively among institutional investors as a private placement, with demand significantly exceeding the offer volume. The application has been made to include the bond in the Frankfurt Stock Exchange's Quotation Board from August 5, 2013 (trading on terms of issue), and the issue's value date is August 12, 2013. MIFA plans to include the bonds in the Frankfurt Stock Exchange's Entry Standard by circa October 2013 on the basis of a security prospectus that has yet to be approved. Feri EuroRating Services AG awarded the bond a BBB-rating (investment grade). The issue was managed by equinet Bank AG as Sole Lead Manager and Sole Bookrunner and by Ashurst LLP as legal advisers. Peter Wicht, MIFA's CEO, expressed his satisfaction: 'We are very happy with this successful corporate bond placing. We have received very positive feedback on our business model at investor meetings over recent days. Demand was significantly higher than the offer volume, allowing us to complete the placing earlier than expected, despite the current holiday period.' MIFA intends to use the net proceeds from the bond to further optimise its financing structure: the refinancing of short-term bank borrowings should sustainably boost MIFA's planning security and corporate flexibility. In addition, the company plans to use some of the proceeds for future investments - including the establishing of the brand portfolio, new technological developments and the further automation of the value chain. The proceeds are also intended to serve the additional expansion of working capital, thereby supporting MIFA's further organic growth. About the company: MIFA Mitteldeutsche Fahrradwerke AG, which is based at Sangerhausen in Germany's Saxony-Anhalt region, is Germany's largest manufacturer of bicycles in terms of sales. The company produces an extensive range of bicycle models ranging from entry-price through to premium. The components utilised in bicycle production are purchased from renowned suppliers and assembled at the company's single production location in Sangerhausen. Business here focuses on project-related manufacturing to order for large retail chains and OEM (Original Equipment Manufacturer) customers. E-bikes have also been produced since the 2011 financial year. MIFA produces the e-bike for automotive manufacturer smart, Deutsche Post's bicycle fleet, and supplies municipal lending systems with multi-user vehicles. MIFA acquired Berlin-based e-bike manufacturer Grace and Bavaria-based cult bicycle forging company Steppenwolf in 2012, thereby intensifying its sales activities with specialist dealers. MIFA sells its bicycles primarily in its domestic market in Germany. Further sales markets are located mainly in Western Europe. Both the operating business and administration and logistics are managed from the single production site in Sangerhausen. MIFA sold 546,000 bicycles in the 2012 financial year (previous year: 644,000), generating EUR 111.3 million of revenue, representing a 10.7 % increase compared with 2011 (EUR 100.5 million). E-bikes comprised 30.0 % of total revenue (previous year: 12.5 %). After adjusting for acquisition effects, the company generated adjusted operating earnings (EBIT) of EUR 2.9 million (previous year: EUR 4.6 million), and adjusted net income of EUR 1.1 million (previous year: EUR 2.0 million). MIFA has been listed on the stock market since May 2004. Its shares are traded in the Prime Standard of the Regulated Market of the Frankfurt Stock Exchange. Contact: Mark Appoh cometis AG Unter den Eichen 7 65195 Wiesbaden Telephone: 0611-205855-21 Fax: 0611-205855-66 Email: appoh@cometis.de End of Corporate News --------------------------------------------------------------------- 02.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: MIFA Mitteldeutsche Fahrradwerke AG Kyselhäuser Stra�e 23 06526 Sangerhausen Germany Phone: 03464-5370 Fax: 03464-537251 E-mail: b.mirau@mifa.de Internet: www.mifa.de ISIN: DE000A0B95Y8 WKN: A0B95Y Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München (m:access), Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 224038 02.08.2013