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Freenet confirms dividend policy after issuing new promissory note

Freenet was able to collect 345 million euros from a wide range of institutional investors in Germany and abroad by issuing a promissory note loan. The originally planned issue volume of only 300 million euros was exceeded. “The inflowing funds are offset directly against due or repayable tranches,” Freenet announced on Monday. The issue was placed at the lower end of the respective marketing range.

Three tranches of the promissory note loan with a 3.5-year, a 5-year and a 6-year term were issued. “The 3.5-year tranche of 166.5 million euros will be paid with an initial margin of 1.50 percent p.a. pays interest, while the 5-year tranche of EUR 168.5 million with an initial margin of 1.70 percent p.a. is provided. The 6-year tranche of EUR 10.0 million will be paid with an initial margin of 1.90 percent p.a. interest ”, Freenet says on the volumes and interest rates of the individual tranches.

“We are therefore even more confident in confirming our dividend policy, which was confirmed in the first quarter of 2020 and plans to distribute at least 80 percent of free cash flow,” says Ingo Arnold, CFO of the Hamburg-based telecommunications company.

At a glance – chart and news: Freenet

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