Eterna Mode Holding GmbH (“ETERNA”), a leading retailer of men’s and women’s dress shirts in Germany, Austria, and Switzerland, has refinanced their outstanding debt. The new debt package includes a EUR 33m secured “Schuldschein” loan at a margin of 4.75% and a EUR 25m unsecured bond which carries a coupon of 7.75%. The EUR 55m bond with an 8% coupon, which was issued in 2012, was successfully repaid.
Helmut Kandlbinder, CFO of ETERNA, is very pleased with the result: “Quarton is an excellent partner with whom we were able to bring down costs in a complex refinancing and a difficult market environment.“
Quarton International advised ETERNA on, and negotiated on ETERNA’s behalf, the terms and conditions of the loan and coordinated the terms of the loan and the bond.
Since 1863 ETERNA has been known for its fashionable men’s and women’s dress shirts that fulfill the highest standards of quality. Production takes place primarily in Europe, especially in ETERNA’s own operations in Slovakia. ETERNA Group has approximately 1,150 employees, about 725 of which are employed in ETERNA’s production facilities in Banovce (Slovakia). ETERNA has been ÖkoTex Standard 100plus certified since 2000, which means ETERNA guarantees the sustainability of its process chain and product portfolio and was the first producer of men’s and women’s shirts worldwide to do so. Since 2015 ETERNA has gone even a step further and is fully transparent about the production chain of its shirts. With its own label GOOD SHIRT, ETERNA does not just guarantee fairness and sustainability but makes it transparent for everyone to see. In 2016 ETERNA sold more than four million shirts, ties, and accessories. ETERNA, which is part of Quadriga Capital, supplies about 5,000 speciality retailers and operates 56 own retail stores across Europe. ETERNA’s CEO is Henning Gerbaulet.
January 30, 2019
Finance Monthly Deal Maker Award for Quarton, a Cowen Company
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