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Sika completes offering of senior debt

Specialty chemicals company Sika AG completed its offering of CHF1.65 billion of senior convertible bonds due 2025.

The issue, which was upsized from CHF1.5 billion, carries a coupon rate of 0.15%. The proceeds from the issue will be used mainly for refinancing the recently announced acquisition of its own shares from Compagnie de Saint-Gobain and for general corporate purposes.