Ashurst advised MIFA Mitteldeutsche Fahrradwerke AG ("MIFA") as transaction counsel on the successful issue and placement of its corporate bond. The bond with a volume of €25 million, a five-year maturity and a 7.50 per cent. coupon was placed with institutional investors by Equinet Bank AG. From 5 August, it will be included in the Quotation Board of the Frankfurt Stock Exchange. At a later date MIFA is also planning to have the corporate bond included in the Entry Standard for bonds on the Frankfurt Stock Exchange based on a securities prospectus which has yet to be approved. MIFA intends to use the issue proceeds to optimise its financing structure, invest in the future and extend the working capital.

The Ashurst team comprised partners Matthias von Oppen and Dr Tobias Krug, counsel Peter Holst and associate Joanna Wilczynska-Gluch (all capital markets / corporate finance, Frankfurt). The firm advised on the terms and conditions of issue and corporate law topics; it will also legally assist MIFA in preparing the securities prospectus required.

In the middle of 2012, an Ashurst team led by Matthias von Oppen and Peter Holst already advised MIFA in connection with a rights issue and its uplisting in the Prime Standard segment of the Frankfurt Stock Exchange.

MIFA is the largest bicycle manufacturer in Germany in terms of sales. In the financial year 2012, the company sold 546,000 bicycles and generated a turnover of €111.3 million. MIFA AG has been listed on the stock exchange since May 2004. Its shares are traded in the Prime Standard segment of the Regulated Market of the Frankfurt Stock Exchange.