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Swiss firm Oerlikon places CHF 340 mn bonds for debt coverage

17 May '23

1 min read

Pic: Twitter/@OerlikonGroup

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Oerlikon has placed two series of senior unsecured bonds, CHF 220M due in June 2026 and CHF 120M due in October 2029, to repay debt and maintain a strong financial foundation post-Riri acquisition.
The bonds carry annual coupons of 2.875 per cent and 3.25 per cent respectively.
The company plans to list and trade the bonds on the Six Swiss Exchange.

Switzerland’s OC Oerlikon Corporation AG, Pfaffikon has announced the successful placement of two series of senior unsecured bonds—CHF 220 million due in June 2026 and CHF 120 million due in October 2029. These bonds are to repay outstanding debt and ensure a continued strong financial foundation following the acquisition of Riri.

The coupons have been set at 2.875 per cent per annum for the bonds due 2026 and 3.25 per cent per annum for the bonds due 2029. The coupons for both tranches are payable annually, with the first coupon payable in June 2024 and October 2023, respectively, Oerlikon said in a press release.

An application for the bonds to be admitted for listing and trading on the Six Swiss Exchange will be filed, with provisional trading expected to commence on or around May 31, 2023. Settlement date of the bonds is expected on June 2, 2023.

Commerzbank, Credit Suisse, Bank J Safra Sarasin, UBS Investment Bank, and Zurcher Kantonalbank acted as the joint lead managers and bookrunners on the offering.

Fibre2Fashion News Desk (NB)

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