MTU Aero Engines places €300 million promissory note, extends MRO contract for gas turbines

MTU Aero Engines has successfully placed a €300 million ($320.7 million) promissory note, increasing the original issue volume from €200 million ($213.8 million) after it saw high demand. “We are delighted by the strong interest shown by investors,” said the company’s chief financial officer Peter Kamertisch. “The offer was two-and-a-half times oversubscribed.” The promissory note is divided into two tranches: €161 million ($172 million) with a tenor of three years and €139 million ($148.5 million) with a tenor of five years. The approximate 50 investors comprised of savings banks as well as national and international banks. The funding was arranged