Law firm White & Case facilitates Schuldschein bond issuance for a German firm specializing in optics and audiology.
Published on May 30, 2025
German optometry and audiology company Fielmann Group successfully debuted in the Schuldschein market with a EUR 275 million issuance, securing long-term financing and financial flexibility for future growth.
The inaugural issuance, extensively oversubscribed within a week due to high institutional investor interest, was expertly advised by global law firm White & Case. The advisory team, led by partners Vanessa Schürmann, Karsten Wöckener and Peter Becker, comprised of renowned professionals Rebecca Emory, Sebastian Schrag, David Santoro, Darleen Stöckl, and Marie-Christin Frowerk.
Based in Hamburg, Fielmann Group is a family business providing its 29 million global customers with hearing aids, glasses, contact lenses, and eye care services. The company operates more than 1,200 branches across the US and Europe, employing over 24,000 individuals.
The Schuldschein loan includes three maturities — three, five, and seven years — offering both fixed and variable interest rates. The proceeds from the issuance will primarily be used to refinance the bridge facility associated with Fielmann Group's recent acquisition of Shopko Optical, a significant transaction that marked their largest acquisition to date.
Fielmann Group CFO Steffen Bätjer said, "We are securing long-term financing at attractive conditions, optimizing our capital structure, reducing our cost of capital, and creating financial flexibility for the continuation of our growth strategy."
BNP Paribas, DZ BANK, and Morgan Stanley acted as arrangers for the transaction.
- In the approach to securing financial flexibility for future growth, Fielmann Group, with operations in over 1,200 branches across the US and Europe, tapped into the Schuldschein market for a EUR 275 million issuance, an event that also represents a significant movement in the industry.
- Post the successful debut in the Schuldschein market, Fielmann Group CFO Steffen Bätjer expressed that by securing long-term financing at attractive conditions, they would optimize their capital structure, reduce their cost of capital, and create financial flexibility within the finance sector for the continuation of their growth strategy.
