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Panalpina successfully issues a CHF 150 million bond
Panalpina World Transport (Holding) Ltd successfully placed a CHF 150 million debut bond in the Swiss capital market.
The new issue was very well received by the market and attracted great interest among private and institutional investors. The bond has a coupon of 1.0% and a maturity of four years. Payment date is December 12, 2018.
The issue was lead-managed by UBS AG and Basler Kantonalbank, with Kepler Cheuvreux as financial advisor and co-manager. Application will be made to list the bonds on the SIX Swiss Exchange.
“With the bond, we are benefitting from the current attractive conditions in the capital market. The proceeds will be used to further optimise the company's financing structure,” says Robert Erni, Panalpina’s CFO.