Meyer Burger Technology Ltd successfully completes CHF 110 million straight bond issue with maturity in 2017
Meyer Burger Technology Ltd (SIX Swiss Exchange: MBTN) successfully raised long-term capital in an amount of CHF 110 million through the issuance of a Swiss Franc denominated straight bond today. The bond has a coupon of 5 per cent payable annually and matures in 5 years (maturity date 24 May 2017). A bank syndicate consisting of Zürcher Kantonalbank, Credit Suisse and UBS Investment Bank offered the bond issue to institutional and private investors.
The proceeds of the bond will primarily be used to finance Meyer Burger’s strategy in research and development. In addition, proceeds will be used for investments in conjunction with the integration of Roth & Rau, the focussing on one location from different sites in Thun and for general corporate purposes. The payment date for the bond is expected to be 24 May 2012. Application will be made for provisional admission to trading of the bond on the SIX Swiss Exchange as of 22 May 2012.
