(SIX/SFZN) Siegfried Holding AG today successfully placed a subordinated public hybrid bond in the amount of CHF 100 million. The proceeds are used to finance the acquisition of BASF’s pharmaceutical supply business. The hybrid bond offers investors an initial coupon of 3.50% p.a. and will be listed on the SIX Swiss Exchange. The instrument is perpetual in nature with an initial option to redeem (call date) after 5 years. The hybrid bond is ranking pari-passu with the privately placed CHF 60 million hybrid convertible bond with RAG-Stiftung Beteiligungsgesellschaft mbH, which was issued by Siegfried on 29 September 2015.
The successful placement of the public hybrid bond marks the completion of refinancing the acquisition of BASF’s pharmaceutical supply business.
“The broad demand for the hybrid bond underpins investors’ interest in Siegfried. Now that the financing of the acquisition has been completed, we focus on integrating the acquired business and on realizing the respective value creation potential“, highlights Dr. Rudolf Hanko, CEO of Siegfried Group.
The hybrid bond was primarily placed amongst Swiss investors under the lead of UBS Investment Bank and Zürcher Kantonalbank.
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