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Swiss steelmaker launches €150M bond issue to repay debt from Ascometal buy

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Swiss steelmaker launches €150M bond issue to repay debt from Ascometal buy

Schmolz+Bickenbach AG launched a €150 million bond issue to repay outstanding debt from its acquisition of France's Asco Industries SAS, or Ascometal, the company said in a June 14 statement.

The 5.625% senior secured notes are being offered with a 2022 maturity date.

In January, Schmolz+Bickenbach secured the winning bid for Ascometal following a court-supervised scrutiny of takeover offers.