German team advises Sixt SE on successful issue of its €500 million benchmark bond

Global law firm Norton Rose Fulbright has advised Sixt SE on the successful issuance of its benchmark bond with a total volume of €500 million.

The bond (ISIN DE000A4DFCK8), which has a fixed interest rate of 3.250 per cent and matures on 22 January 2030, was admitted to trading on the regulated market of the Luxembourg Stock Exchange on 22 January 2025. The Joint Lead Managers of the bond issue were BNP PARIBAS, Commerzbank Aktiengesellschaft (Technical Lead), Deutsche Bank Aktiengesellschaft, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main and UniCredit Bank GmbH. Investors showed strong interest in the bond, which received a BBB long-term rating from S&P Global Ratings, and the order book was fourfold oversubscribed at peak. The proceeds of the bond issue will be used by Sixt SE to finance further growth, in particular the expansion of its vehicle fleet.

Sixt was advised by a Norton Rose Fulbright team led by Frankfurt partner Christoph Enderstein. Enderstein, who is also responsible for Norton Rose Fulbright’s debt capital markets practice in Germany, commented: "My team and I have previously advised Sixt in connection with various capital markets transactions. We are pleased that Sixt continues to place its trust in us and has also mandated us in connection with the issuance of its new benchmark bond."

The Frankfurt team was supported by Counsel Dr. Michael Born, Senior Associate Florian Fraunhofer and Associate Miriam Dustmann (all Banking / Finance / Debt Capital Markets, Frankfurt).

At Sixt SE, Dr. Ferdinand Oelschlegel advised in-house in connection with the issue of the bond.

Norton Rose Fulbright's debt capital markets team in Frankfurt advises both investment banks and issuers in connection with national and international capital market transactions in the areas of debt capital markets and structured finance, in particular on bonds, commercial paper, covered bonds, structured bonds, securitized derivatives, hybrid instruments, registered notes, Schuldschein loans and issuance programmes as well as related regulatory issues including sustainable finance matters.