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CECONOMY AG further enhances post-pandemic financing structure with €500 million 5-year senior unsecured bond

Düsseldorf, 18 June 2021 - Today, CECONOMY AG ("CECONOMY") has successfully priced an inaugural €500 million 5-year senior unsecured bond, thereby further enhancing its post-pandemic financing structure. The notes will mature in June 2026 and carry an annual fixed coupon of 1.75%. The issue price was 99.409, equivalent to a yield of 1.875%. The offering will settle on 24 June 2021. The notes will be issued under German law (Reg S) and listed on the Luxembourg Stock Exchange (Euro MTF market). The net proceeds from the issuance of the notes will be used for general corporate purposes, including the refinancing of existing indebtedness.

In May this year, CECONOMY has laid the foundation of its post-pandemic financing structure by signing new €1.06 billion ESG-linked syndicated revolving credit facilities, which are intended to replace the existing syndicated revolving credit facilities with the participation of KfW as a back-up line. CECONOMY has now further enhanced its post-pandemic financing structure by further diversifying its capital structure with the first bond transaction following the demerger of METRO AG. With an extended, long-term maturity profile, the issuance of the senior unsecured notes also strengthens CECONOMY's financial flexibility.

Whilst CECONOMY possesses a rating of "Ba1" by Moody's and "BBB-" by Scope (both featuring a stable outlook), the notes will receive a "Ba1" rating by Moody's.

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About CECONOMY

CECONOMY AG empowers life in the digital world. It is leading for concepts and brands in the field of consumer electronics. The companies in the current CECONOMY portfolio have billions of consumer contacts per year and provide products, services and solutions that make life in the digital world easy and enjoyable, creating value for consumers and shareholders alike.

Contact

CECONOMY AG
Kaistr. 3
40221 Düsseldorf, Germany

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Telephone +49 (0) 211-5408-7222
Email [email protected]
Website https://www.ceconomy.de/en/investor-relations/

Communications, Public Policy & Sustainability

Telephone +49 (0) 173 6517710
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Website https://www.ceconomy.de/en/presse/

Disclaimer
The offering of the notes is being made by means of an offering memorandum. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the notes or any other security and shall not constitute an offer, solicitation or sale in the United States, Canada, Japan, Australia or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States or any other jurisdiction and the securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state or local securities laws of other jurisdictions.

The securities referred to herein are not being offered to the public in the European Economic Area ("EEA") within the meaning of Regulation (EU) 2017/1129 (the ''EU Prospectus Regulation''). In member states of the EEA, this announcement is directed only at persons who are ''qualified investors'' within the meaning of the EU Prospectus Regulation. This announcement must not be acted on or relied on in any member state of the EEA by persons who are not qualified investors. Any investment or investment activity to which this announcement relates is available only to qualified investors in any member state of the EEA.

The securities referred to herein are not being offered to the public in the United Kingdom within the meaning of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA (the ''UK Prospectus Regulation''). In the United Kingdom, this announcement is only being distributed to and is only directed at persons who are ''qualified investors'' within the meaning of the UK Prospectus Regulation who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) of the United Kingdom (as amended, the ''Order''), (ii) are persons who are high net worth entities falling within Article 49(2)(a) to (d) of the Order or (iii) who are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 of the United Kingdom) (as amended, the ''FSMA'') in connection with the issue or sale of any notes may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as ''Relevant Persons'').

This announcement is directed only at (i) in the United Kingdom, persons who are Relevant Persons and (ii) in any member state of the EEA, persons who are qualified investors. Any investment or investment activity to which this announcement relates is available only to Relevant Persons in the United Kingdom and qualified investors in any member state of the EEA.

The notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the EEA. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of EU MiFID II; or (ii) a customer within the meaning of Directive (EU) 2016/97 (the ''Insurance Distribution Directive''), where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of EU MiFID II. Consequently, no key information document required by Regulation (EU) No. 1286/2014 (the ''EU PRIIPs Regulation'') for offering or selling the notes or otherwise making them available to retail investors in the EEA has been prepared and therefore offering or selling the notes or otherwise making them available to any retail investor in the EEA may be unlawful under the EU PRIIPS Regulation.

The notes are not intended to be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to any retail investor in the United Kingdom. For these purposes, a retail investor means a person who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No. 2017/565 as it forms part of domestic law by virtue of the EUWA; (ii) a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement the Insurance Distribution Directive, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) No. 600/2014 as it forms part of domestic law by virtue of the EUWA. Consequently, no key information document required by Regulation (EU) No. 1286/2014 as it forms part of domestic law by virtue of the EUWA (the ''UK PRIIPs Regulation'') for offering or selling the notes or otherwise making them available to retail investors in the United Kingdom has been prepared and, therefore, offering or selling the notes or otherwise making them available to any retail investor in the United Kingdom may be unlawful under the UK PRIIPs Regulation.