·
Promissory notes with terms of 3, 5, and 7 years via the finpair digital platform
·
Use for the (re)financing of eligible green projects
·
Investors have great confidence in CLASSEN's corporate philosophy
BRAUNGART EPEA and CLASSEN Group aim to further establish CERAMIN® and other building materials
July 20, 2023, Kaisersesch. The CLASSEN Group, one of the world’s leading manufacturers of flooring, 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 Group underscores the importance of sustainability and resource efficiency to its corporate strategy. The established framework meets the requirements of the Green Bond Principles (GBP), which provide a framework for the transparent use of funds.
The use of funds is targeted at the ICMA’s project categories in the areas of energy efficiency and the circular economy. The family-owned company plans to use the proceeds from the green bond to further develop production processes in the flooring industry and implement energy efficiency measures. This includes the implementation of energy-efficient technologies, the use of renewable energy, the reduction of resource consumption, and the promotion of recycling and waste reduction. These investments are intended to further expand the aforementioned measures.
Photo: The photovoltaic system consisting of 7,000 modules at the main site in Kaisersesch
Stefanie Quervel, Chief Financial Officer of the CLASSEN Group: “The successful placement of the green promissory note is a significant step for the CLASSEN Group and a testament to our commitment to sustainability and environmental protection. We are pleased that investors support our sustainable corporate strategy and that we can shape the future together.”
The digital platform finpair enabled the CLASSEN Group to efficiently and effectively market the green promissory note to interested investors. The successful placement demonstrates investor demand for the CLASSEN Group’s issuance and supports the financing of the planned projects.
Christian Müller, Authorized Signatory at finpair: “In addition to the CLASSEN Group’s continued use of the finpair digital platform, we are very pleased that we were able to structure a green bond issuance for the CLASSEN Group for the first time, with additional support from our partner imug rating GmbH. Despite increased margin requirements across the market, the CLASSEN Group 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, a provider of digital debt instruments that emerged from a digitalization initiative by NORD/LB. finpair is a platform provider where users benefit from a digital product solution combined with personalized product and structuring expertise—all from a single source. In doing so, finpair covers all phases of the promissory note process—from structuring and marketing to repayment—and offers services and value-added features at every stage. Thanks to its digitally supported approach and broad investor base, finpair is well-suited for various forms of debt instrument placement. Issuers can benefit from the transparency, efficiency, and potential cost savings offered by the platform’s technology.
You can find out more about finpair here
Learn More
