Loan & DebtJun 15, 2026, 06:12 AM
Birkenstock to Offer €900M Senior Notes; Plans $500M Buyback
AI Summary
Birkenstock Holding plc announced an offering of €900 million in senior notes due 2033 by its indirect wholly-owned subsidiary. The proceeds will primarily be used to redeem €428.5 million of existing 5.25% Senior Notes due 2029 and to finance potential repurchases of up to $500 million (€431 million equivalent) of the Company's ordinary shares. Additionally, the company expects to amend its term and revolving facilities agreement, which will release existing liens and security interests. As of June 1, 2026, cash and cash equivalents were approximately €176 million.
Key Highlights
- Birkenstock subsidiary to offer €900 million senior notes due 2033.
- Proceeds to redeem €428.5 million of 5.25% Senior Notes due 2029.
- Funds also for potential share repurchases up to $500 million (€431 million).
- Expected amendments to term and revolving facilities agreement.
- All liens and security interests under facilities agreement to be released.
- Cash and cash equivalents were approximately €176 million as of June 1, 2026.
- Net cash inflow from operations was approximately €80 million (April 1 - June 1, 2026).
Price Impact
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