Sulzer raised CHF460 million (US$467 million) in the Swiss capital market through a dual tranche bond issuance taking advantage of current favourable market conditions.
The first tranche of CHF210 million (US$213 million) has a term of three years and carries a coupon of 0.625 per cent at a price of 100 per cent. The second tranche of CHF250 million (US$254 million) has a term of six years and carries a coupon of 1.6 per cent at a price of 100.1 per cent.
The additional bonds further optimise the maturity profile of Sulzer’s financing mix and will support the company’s bolt-on acquisition strategy.
The bonds were issued through Credit Suisse, Raiffeisen Bank and Zürcher Kantonalbank.