Valora successfully placed a Schuldschein issue for EUR 100 million with a five-year term on the banking market on 20 December 2018. At the same time, Valora was the first company to market a CHF tranche for CHF 63 million. Through this transaction, it is refinancing a maturing EUR Schuldschein issue and part of the CHF hybrid bond as well as optimising its long-term financing structure.
On 20 December 2018, Valora successfully placed a Schuldschein issue worth EUR 100 million and CHF 63 million with a five-year term on the banking market. The leading foodvenience provider is taking advantage of the currently attractive market conditions and will be able to refinance the Schuldschein issue of EUR 78 million, which is set to mature in April 2019, early and at significantly better conditions. The CHF tranche also partly refinances the hybrid bond redeemed at the end of October 2018. The strong demand far exceeded Valora's expectations so that the company increased the original target volume by more than EUR 50 million. The strong interest came from Swiss, German and international investors. The transaction was overseen by Commerzbank Aktiengesellschaft, Landesbank Baden-Württemberg and UBS. The transaction will be closed on 11 January 2019.
Tobias Knechtle, CFO of Valora, comments: “Valora is optimising its long-term financing structure and further reducing its financing costs with its fourth Schuldschein issue transaction in five years.” Remo Gazzi, Corporate Treasurer at Valora, explains: “The CHF tranche we marketed as the first company to do so since the inception of the Schuldschein market in Switzerland was placed at extremely competitive conditions compared to the Swiss capital market. We have also chosen digital parallel marketing via Debtvision for the first time for this transaction.”
This media release is available online at www.valora.com/newsroom.