SIG announces it has successfully issued a €650 million Schuldschein loan. The sustainability-linked loan is structured in tranches with maturities of three, 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 €300 million.
The Schuldschein extends SIG’s debt maturity profile and broadens its sources of funding to a new investor base. The weighted average maturity of the placement is approximately five years. The funds are being used to repay bridge financing facilities put in place at the start of 2022 for the Evergreen Asia and Scholle IPN acquisitions.
SIG’s Schuldschein is the largest placement year to date for a Swiss issuer and in the past two years it is one of the largest in the overall market. The participating investors comprise banks and long-term investors in both Europe and Asia with a strong interest from Swiss institutions.
Frank Herzog, chief financial officer of SIG, said, “This successful and increased placing of the Schuldschein demonstrates that, even in a challenging macro-economic and capital markets environment, investors value the resilience and cash generation of our businesses."