Bonds are instruments for long-term financing on the capital market. PORR has completed many successful bond issues over the years. Here you can find an overview of the PORR Group's current bonds.
PORR Corporate Bond 2017.
PORR AG successfully places a hybrid bond
Volume of EUR 125 million, indefinite maturity with an early redemption option after five years (hybrid bond), coupon 5.5% per annum, fixed rate until the First Call Date (6 February 2022)
PORR Corporate Bond 2014.
New issue of a senior bond and a hybrid bond through exchange of existing bonds issued in the years 2009 and 2010.
Capital increase of hybrid bond 2014 by 7,945,500 Euros in the course of a private placement in March 2015.
PORR Corporate Bond 2013.
PORR AG successfully issues further corporate bonds – approval of security prospectus on 4 November 2013.
Volume of 50 million Euros, term: 5 years, coupon 6.25% p.a.
PORR Corporate Bond 2010.
PORR successfully issued another corporate bond in 2010. The proceeds were earmarked for optimising the financing portfolio and improving PORR’s financial strength, repayment of existing financial obligations, extending the range of business activities and possible acquisitions in the course of geographic expansion.
The bond has a redemption period of five years and was issued in EUR. It was suitable for both private and institutional investors.
PORR Corporate Bond 2009.
In November 2009 PORR took another step towards improving the capital and financing structure by issuing a corporate bond with a nominal value of EUR 100.0m. The bond is in EUR 500.0 denominations, has a redemption period of five years and a nominal interest rate of 6.0%. The solid reputation of the PORR Group and the high levels of trust that PORR enjoys among investors led to the successful issue and oversubscription of the bond.
PORR Corporate Bond 2007.
The Group issued another corporate bond in May 2007, once again with great success. In order to meet high demand, the issue volume was raised from EUR 60.0m to EUR 70.0m. The bond has a coupon rate of 5.875% and a maturity of five years.
ABAP profit-participation rights 2007.
In order to boost the financing structure still further, in December 2007, ABAP Beteiligungs Holding GmbH – a newly founded PORR subsidiary into which the TEERAG-ASDAG AG shares were incorporated – issued profit-participation rights with a total nominal value of EUR 70m and an initial rate of return fixed at 8% per annum, rising by a further 5% after a period of five years. This is known as so-called hybrid capital, which is classified in the IFRS consolidated accounts as equity. This step resulted in the further diversification of financing sources.
PORR Corporate Bonds 2006.
PORR simultaneously issued two new corporate bonds in the second quarter of 2006 in Austria and the Czech Republic. Demand for the corporate bonds was so great that even though the issue volume of the EUR bond was increased, allotment was still curtailed. The total volumes amounted to EUR 60m (rather than the originally planned EUR 50m) and CZK 200m. The CZK bond was also open to institutional investors outside of Austria. Both bonds had a five-year tenor, with a coupon rate of 5.625% and a six-month PRIBOR of +1.9 percent.
As with the previous corporate bond issued by PORR in 2005, there was particularly high interest from private investors. These bonds were redeemed at par value on June 29th 2011.
PORR convertible bonds.
PORR was one of just a few Austrian industrial firms to take the opportunity to issue convertible bonds. PORR’s first convertible bond was issued in 1973 and almost fully converted to preference shares at the end of the maturity period. The third and so far last convertible bond of PORR was listed on the Vienna Stock Exchange until the end of 2001 and was fully redeemed at par value