Hella Group says it has successfully raised EUR500m (US$668m) in the capital market from a corporate bond issuance, with the order book five times oversubscribed, according to the company.

Hella had already issued a bond for EUR300m in 2009, which will be refinanced early with the new issuance. The transaction was managed by BNP Paribas, Deutsche Bank and RBS.

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“With this new bond, we are taking advantage of the capital market environment for a long-term refinancing”, said Hella chief finance and controlling officer, Wolfgang Ollig.

“The successful issuance strengthens our financial structure and gives us additional scope for pushing ahead with our business.”

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