Valora exercises call option on CHF 120 million hybrid bond

28.09.2018 / 07:00 / Misc, Shareholder

Media release

Valora exercises call option on CHF 120 million hybrid bond

In line with its long-term financing strategy, Valora will exercise its call option on the 4.00% hybrid bond for CHF 120 million on 30 October 2018.

 

Valora will exercise its call option in accordance with the bond terms for its 4.00% hybrid bond on the first possible call date on 30 October 2018, thus making use of its right to repurchase the outstanding bond at its principal amount, plus accrued interest. The perpetual callable subordinated bond for CHF 120 million was issued in April 2013.

 

Tobias Knechtle, CFO of Valora, explains: «The repurchase of this hybrid bond is part of our long-term financing strategy. By exercising the call option now, we are avoiding a substantial interest mark-up. In a first step, the refinancing will be funded by existing credit facilities and the available liquidity.»

 

The bond will be repurchased in accordance with the bond terms. The last day of trading will be 26 October 2018.