DGAP-News: MIFA: Successful corporate bond issue

ID: 1251322
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(businesspress24) - DGAP-News: MIFA Mitteldeutsche Fahrradwerke AG / Key word(s): Issue of
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

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.


Mark Appoh
cometis AG
Unter den Eichen 7
65195 Wiesbaden
Telephone: 0611-205855-21
Fax: 0611-205855-66
Email: appoh(at)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 Straße 23
06526 Sangerhausen
Phone: 03464-5370
Fax: 03464-537251
E-mail: b.mirau(at)mifa.de
Internet: www.mifa.de
ISIN: DE000A0B95Y8
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Hamburg, München (m:access),

End of News DGAP News-Service
224038 02.08.2013

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Date: 08/02/2013 - 09:43
Language: English
News-ID 1251322
Character count: 0
Firma: MIFA Mitteldeutsche Fahrradwerke AG
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