Meyer Burger Technology advised that it had raised US$121.3 (CHF110 million) in long-term capital through a Swiss Franc dominated straight bond issuance. The bond holds a coupon of 5% payable annually and maturity date of May 24, 2017. Zürcher Kantonalbank, Credit Suisse and UBS Investment Bank collectively offered the bond issue to institutional and private investors.
The company noted that proceeds from the bond will primarily be used to finance its research and development with partial funds used for investments that support its integration of Roth & Rau, the focus on one location from different sites in Thun and for general corporate purposes.
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Payment for the bond is anticipated to occur on May 24. Meyer Burger stated that it will make an application for provisional admission to trading of the bond in the SIX Swiss Exchange on May 22.
