Birkenstock, the German sandal maker, will issue its first bond in more than five years. The company plans to raise €900 million ($1.04 billion) through seven‑year notes callable after three years. A confidential source says investors will hear details in a call on Monday, with follow‑up meetings scheduled for Tuesday to clarify the issuance structure and timing.

The debt is intended to replace existing obligations that mature soon, freeing cash for potential share buybacks. Birkenstock has not yet disclosed how much of the proceeds will fund repurchases, but analysts note the move signals confidence in growth and a desire to return value to shareholders in the European market as they prepare for future.

Seven‑year notes callable after three years offer flexibility to the issuer, allowing Birkenstock to refinance early if rates drop. Investors will assess the credit profile, noting the company’s stable cash flow from footwear sales and its recent restructuring that cut costs by €200 million last year and improved profitability that supports long‑term growth strategies in Europe and

By tapping the bond market, Birkenstock signals confidence in its balance sheet and a readiness to deploy capital strategically. The €900 million deal could set a precedent for other European apparel firms seeking debt flexibility while maintaining shareholder returns. Investors will watch closely how the company allocates the proceeds through the next quarter and into future expansion projects.