SPS issues 350 million franc convertible bond
The fresh funds from the proceeds of the green bond will be used to partially refinance a CHF 275 million bond.
Swiss Prime Site has placed a green convertible bond in the amount of CHF 350 million maturing in 2032. The bond is interest-free and has a conversion premium of 24.0% above the volume-weighted average price of SPS shares over the following four consecutive trading days after announcement. The net proceeds from the convertible bond will be used to partially refinance the outstanding convertible loan in the amount of CHF 275 million, which was issued via the special purpose entity ELM B.V.
«With this new equity-linked financing, Swiss Prime Site is strengthening its diversified and conservative financing strategy using a broad range of available financing instruments,» commented Switzerland's largest listed real estate company on the transaction.
