trending Market Intelligence /marketintelligence/en/news-insights/trending/-dX6EG4FFCEWuVsMp1BB0w2 content esgSubNav
In This List

Sika to raise debt for share purchases under Saint-Gobain deal

Blog

Breaking into Europe’s Digital Infrastructure Markets: Drivers & Trends

Blog

SVOD players open to hybrid models; Netflix and Disney to add ad-supported plans

Blog

Does Disney+ Hotstar minus IPL equal trouble for the streaming giant?

Blog

Broadband revenues continue to grow in CEE


Sika to raise debt for share purchases under Saint-Gobain deal

Sika AG is set to offer CHF1.50 billion in senior convertible bonds to refinance the purchase of its shares from Compagnie de Saint-Gobain AG, among other things.

The bonds, due 2025, are expected to carry a coupon between zero percent and 0.30% per year, with a conversion price set at a premium of between 40% and 45% over the volume-weighted average price of the company's shares on the SIX Swiss Exchange between the launch of the offering and its pricing.

The specialty chemicals company granted advance subscription rights to existing shareholders to subscribe for the newly issued bonds in proportion to the number of shares they own, subject to selling restrictions. The bonds can be converted into new or existing Sika shares, subject to certain conditions.

The company expects to settle the bond offering June 5.

UBS is acting as sole global coordinator and sole book-runner for the offering.