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Promissory notes with maturities of 3, 5, and 7 years via the finpair digital platform
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Use for the (re)financing of eligible green projects
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strong investor confidence in CLASSEN sustainable business philosophy
BRAUNGART EPEA and CLASSEN aim to further establish CERAMIN® and other healthy building materials
July 20, 2023, Kaisersesch. The CLASSEN, one of the world’s leading manufacturers of flooring, has successfully placed a green promissory note for the first time via the digital platform finpair, which facilitates the placement of promissory notes with interested investors. The issuance of the green promissory note complies with the Green Bond Principles (GBP) and was reviewed with an unqualified SPO (second-party opinion) by imug rating GmbH, one of Germany’s leading providers of ESG investment strategy and implementation as well as sustainability assessments.
By issuing the green promissory note, the CLASSEN is sending a clear signal regarding its sustainable and responsible corporate strategy as well as its responsible use of resources. The established framework meets the high standards of the Green Bond Principles (GBP), which ensure the transparent and environmentally conscious use of funds.
The use of funds is targeted at the ICMA’s project categories in the areas of energy efficiency and circular economy. The family-owned company plans to use the proceeds from the green bond to advance sustainable and energy-efficient production processes in the flooring industry. This includes the implementation of environmentally friendly technologies, the use of renewable energy, the reduction of resource consumption, and the promotion of recycling and waste reduction. Through these significant investments, CLASSEN will further expand CLASSEN leading position as a sustainable player in the flooring industry and contribute to reducing its environmental footprint.
Photo: The 7,000-module photovoltaic system at the main site in Kaisersesch
Stefanie Quervel, Chief Financial Officer of CLASSEN: “The successful placement of the green promissory note is a significant step for the CLASSEN and a testament to our commitment to sustainability and environmental protection. We are delighted that investors support our sustainable corporate strategy and that we can shape the future together.”
The digital platform finpair enabled the CLASSEN to efficiently and effectively market the green promissory note to interested investors. The success of this placement underscores investors’ confidence in the CLASSEN sustainable orientation and its innovative strength in the flooring sector.
Christian Müller, Authorized Signatory at finpair: “In addition to the CLASSEN continued use of the finpair digital platform, we are very pleased that we were able to structure a green bond issuance for the CLASSEN for the first time, with additional support from our cooperation partner imug rating GmbH. Despite increased margin requirements across the overall market, the CLASSEN succeeded in raising the desired liquidity on attractive terms.”
About finpair
“Digital. Efficient. Flexible. That’s how promissory note loans work today.” This is the philosophy of finpair, an innovative provider of digital debt instruments that emerged from a digitalization initiative by NORD/LB. finpair is the only platform provider where users benefit from a digital product solution combined with personalized product and structuring expertise—all from a single source. finpair covers all phases of the promissory note process, from structuring and marketing to repayment, and offers services and value-added benefits at every stage. Thanks to its digitally supported approach and broad investor base, finpair is the ideal partner for both broad placements of debt securities and private placements. Issuers benefit from the transparency, efficiency, and cost savings offered by the platform’s technology.
You can find out more about finpair here
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