To the news overview

Baker Tilly advises FC Schalke 04 as debt advisor on bond placement

[[Translate to
  • 11/21/2025
  • Reading time 3 Minutes
Deal Info Debt Advisory

Baker Tilly successfully advised FC Schalke 04 as debt advisor on the structuring and issuance of a new five-year bond.

Baker Tilly Engagement Partner Markus Paffenholz advised FC Schalke 04 on the transaction together with Director Jan-Philipp Bülow and Senior Consultant Markus Clemens (all Debt Advisory). 

In the run-up to the issue’s announcement, Baker Tilly supported FC Schalke 04 in its decision-making process regarding the pros and cons of a new bond, the optimal marketing period, the indicative guidelines (pricing and structure), and the selection of an issuing bank for the private placement with institutional investors. 

Subsequently, Baker Tilly worked with FC Schalke 04, Bankhaus Metzler (the issuing bank for the private placement with institutional investors) and Linklaters (capital markets advisor to FC Schalke 04) to develop the issuance schedule, final structure and terms and conditions, and advised FC Schalke 04 on the preparation of the necessary documentation for the new bond (including the securities prospectus and investor presentation). Apart from the private placement with institutional investors, the bond issue was again carried out under its own responsibility (direct public offering) as part of the public offering. 

The new 2025/2030 bond raised € 90 million, significantly exceeding the original target in a difficult market environment. During the subscription phase, the public offering was already increased from € 50 million to € 75 million. Even after the public offering was increased, the bond was still significantly oversubscribed. 

The new bond will be used for the early refinancing of bonds maturing in 2026 and 2027 with a total volume of € 50 million, as well as for the repayment of other, in particular senior secured financial liabilities. The successful bond issue offers FC Schalke 04 the opportunity to reorganize its existing financing structure in key areas and significantly increase its freedom of action. The bond has a fixed annual interest rate of 6.5 percent, a term until November 26, 2030, and a Bundesliga bonus (one-time bonus payment of 1.5 percent if FC Schalke 04 will be promoted by the 2029/2030 season) and is listed on the open market of the Frankfurt Stock Exchange. 

About FC Schalke 04 

FC Schalke 04 (Fußballclub Gelsenkirchen-Schalke 04 e.V.) is a sports club established in 1904 in the Gelsenkirchen district of Schalke. With more than 200,000 members, FC Schalke 04 is one of the three largest clubs in Germany and the sixth largest worldwide. Its main areas of business are professional soccer, training young soccer players, and marketing the VELTINS Arena. 

For more information on FC Schalke 04, please click here.