G+D raises 130M Euros to expand digital identity, payments amid strong investor interest
Giesecke+Devrient (G+D) has raised 130 million Euros (approximately US$135.3 million) through a promissory note loan to support operational growth in digital identity, payments, connectivity and security. G+D’s product portfolio includes biometrics for several of the above areas.
Some of the funds will also be dedicated to general corporate financing.
The volume initially specified in the term sheet was for €75 million ($78.1 million), but the offering was oversubscribed and subsequently adjusted, according to the announcement.
“The fact that we are once again taking out a long-term loan four years after our last promissory note loan is a sign of the great trust that investors place in the strategic direction and solid success of our company,” emphasizes Dr. Peter Zattler, member of the Management Board and CFO of G+D. “Through the promissory note loan, we emphasize the broad basis of our financial instruments.”
Bayerische Landesbank and DZ-Bank are facilitating the transaction. Participating investors include a large number of savings banks and cooperative institutions, with the loans reaching maturity in between three and five years, G+D says.
A joint venture of G+D is moving towards a launch of biometric payment cards in Turkey, and the company purchased Valid’s payment and digital identity solutions business in the U.S. earlier this year.