Norton Rose Fulbright advises Sixt SE on successful issue of its €500 million benchmark bond

Global law firm Norton Rose Fulbright has advised Sixt SE on the successful placement of a corporate bond with a volume of €500 million.

The benchmark bond (ISIN: DE000A46Z700), maturing in January 2031 and rated BBB by S&P, was successfully placed with international investors. The order book exceeded €1.6 billion, making the issuance more than three times oversubscribed and highlighting the strong demand for the transaction despite a challenging market environment. The bond was issued with an interest rate of 3.75 per cent. and a spread of only 90 basis points, the lowest spread in SIXT's corporate history. The Joint Lead Managers of the bond issue were Bayerische Landesbank, Commerzbank Aktiengesellschaft (technical lead), Deutsche Bank Aktiengesellschaft, ING Bank N.V. and UniCredit Bank GmbH.

The proceeds of the issuance will primarily be used to finance the continued growth of the Sixt Group. Key areas of focus include expanding the premium vehicle fleet, broadening the international branch network and investing in technology and digital services. The financing therefore supports SIXT's ongoing international expansion and the strengthening of its premium mobility offering.

Headquartered in Pullach near Munich, Sixt SE is one of the world's leading providers of premium mobility services. In the 2025 financial year, the Sixt Group achieved record revenue of €4.28 billion and increased pre-tax earnings by 19.5 per cent. to €400.5 million. Shareholders' equity also reached a new all-time high of more than €2.15 billion.

Sixt SE was advised by a Norton Rose Fulbright team led by Frankfurt partner Christoph Enderstein, who heads the firm's Debt Capital Markets practice in Germany.

Christoph Enderstein commented:

"The strong investor demand and the excellent pricing achieved for this issuance demonstrate the capital market's high level of confidence in SIXT's business model and financial strength. We are delighted to have once again supported the company in connection with an important capital markets transaction."

The Norton Rose Fulbright team also included counsel Dr. Michael Born (Debt Capital Markets/Regulatory) as well as senior associate Florian Fraunhofer and associate Quynh-Anh Nguyen-Walter (both Debt Capital Markets, Frankfurt).

At Sixt SE, Dr. Ferdinand Oelschlegel advised in-house in connection with the issue of the bond.

Norton Rose Fulbright's Debt Capital Markets team in Frankfurt led by partner Christoph Enderstein advises both investment banks and issuers in connection with national and international capital markets transactions in the areas of debt capital markets and structured finance, in particular on bonds, electronic securities, covered bonds (Pfandbriefe), structured bonds, securitized derivatives, hybrid instruments, commercial paper, registered bonds, Schuldschein loans and debt issuance programmes as well as the related regulatory aspects including sustainable finance matters.