Clifford Chance has advised Fußballclub Gelsenkirchen-Schalke 04 e.V. ("Schalke 04") on the issuance of a bond. The total volume of the issue amounts to EUR 50 million and is divided into two bonds with terms of five and seven years, respectively. The fixed interest rate for the five-year bond is 4.25% p.a., the fixed rate for the seven-year bond is 5.00% p.a. The funds raised will be used to refinance the 6.75% bond issued in 2012.

The bonds were offered to creditors of the 6.75% bond by way of an exchange offer and an option to purchase additional bonds. Further, the bonds could be subscribed via the Schalke 04 website. The offer ended early with the bonds being oversubscribed.

The first day of trading on the Frankfurt Stock Exchange (Handel per Erscheinen) in the Entry Standard segment for bonds was 24 June 2016. The issue's value date is 7 July 2016. equinet Bank AG acted as the lead manager for the issue.

Following the successful placement of the new bonds, Schalke  04 exercised its option to repay the 6.75% bond early as per 11 July 2016.

The Clifford Chance team comprised partner Sebastian Maerker and associate Dr. Peter Becker (both Banking & Capital Markets, Frankfurt).