The Metzingen fashion group Hugo Boss AG has raised 175 million euros through a promissory note loan.
“In view of the high demand, the originally planned issue volume of 100 million euros was significantly increased and the interest rate was fixed at the lower end of the marketing range,” the company explained on Wednesday. In total, more than 70 institutional investors took part, the fashion retailer said. What was “particularly pleasing” was “the high demand from investors from Europe and Asia”.
According to its own statements, the company now wants to use the additional funds to finance further investments as part of its current “Claim 5” strategy program. “We are pleased that we have successfully entered the market for promissory note loans and have thus placed our financing mix on a broader basis,” explained CFO Yves Müller in a statement. “The great demand confirms the trust in our company and our growth strategy.”