The KION Group issued a corporate bond for €650,000 thousand through the consolidated subsidiary KION Finance S.A., Luxembourg, in February 2013. Of the bond's total par value of €650,000 thousand, €450,000 thousand is repayable at a fixed interest rate of 6.75 per cent p.a., while €200,000 thousand carries a floating interest rate based on three-month Euribor plus a margin of 4.5 percentage points. The payout amount for the variable portion was €1,000 thousand below the par value (discount). The interest on the fixed-rate tranche is paid semi-annually, while interest on the floating-rate tranche is paid once a quarter. The bond's principal is redeemed as a bullet payment on maturity. Of the total proceeds of €649,000 thousand, €636,000 thousand was used to repay existing senior facility agreement (SFA) liabilities and €13,000 thousand will be used to pay the expected transaction costs.
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