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The new Schuldschein allows SIG to extend its debt maturity profile, whilst continuing to broaden its investor base, following the €650m Schuldschein that it issued in 2022
SIG announces it has completed a €450 million Schuldschein placement. The notes are structured in tranches with maturities of four, five and seven years with both fixed and variable interest rates at competitive levels. The high level of demand from a wide range of investors resulted in the transaction being upsized from a launch amount of €200 million.
The new Schuldschein allows SIG to extend its debt maturity profile, whilst continuing to broaden its investor base, following the €650m Schuldschein that it issued in 2022. The weighted average maturity of the placement is approximately five years. The funds are part of a program to refinance existing debt facilities well ahead of their scheduled maturity dates.
SIG’s Schuldschein is the largest placement for a Swiss issuer this year and one of the largest in 2024. The participating investors comprise banks and long-term investors in Europe and Asia, including a strong interest from Swiss institutions.
Anne Erkens, Chief Financial Officer of SIG, said: “This successful placing of the Schuldschein in a substantial volume again demonstrates investors’ confidence in the strength of SIG’s business model, reflected in the high demand for the notes and competitive pricing achieved by the new issue.”