Valora Holding: Successful completion of a Hybrid Bond

10.04.2013 / 07:00 /

Valora Holding AG successfully completed the Company's first ever issuance of a CHF 120 million Perpetual Callable Subordinated Instrument (‘Hybrid Bond'). The objective of the transaction was to strengthen Valora's balance sheet metrics, its financial flexibility and to optimize the debt maturity profile in line with its longterm financing strategy. The net proceeds from the issue will be used to refinance part of the CHF 400 million syndicated loan which was concluded in connection with Valora's previous acquisition of Ditsch/Brezelkönig.

The Hybrid Bonds offers investors a coupon of 4% and is undated with an initial call date by Valora after five and a half years. The successful hybrid capital raising was taken up by a broad Swiss retail investor base.