Oerlikon successfully completes refinancing

Oerlikon has Bond, which was issued on June 13, 2012 – Oerlikon’s first transaction on the Swiss Bond market – and settled on July 13, 2012. Oerlikon successfully placed a 4 year CHF 300 million straight bond with a coupon of 4.25 %. The interest will be paid annually starting on July 13, 2013. The issue was led by UBS Investment Bank, Credit Suisse AG, Deutsche Bank AG and The Royal Bank of Scotland plc. On July 13, 2012 all conditions precedent to the new Syndicated Credit Facility were fulfilled and the effectiveness of the new Facility was confirmed. The twelve month CHF 100 million optional term loan (Facility B) has been cancelled in the light of the successful issuance of the domestic Bond exceeding expectations. Today’s repayment used proceeds from the domestic Bond (some CHF 300 million), initial drawing from the new Syndicated Credit Facility (some CHF 230 million) and the remaining amount from existing cash.
 
CFO Jürg Fedier comments: “We have been able to build a strong financial foundation for the further development of Oerlikon and we are pleased with the regained confidence of the financial markets in our Company based on our improved underlying operational and financial performance.”

© Eurasian chemical market, 2005-2013