u-blox Holding AG (SIX Swiss Exchange: UBXN) successfully raised CHF 60 million debt through the issuance of a fixed rate domestic straight bond. The bonds bear a 1.375% coupon and have a duration of 6 years (final maturity April 18, 2023). Expected payment date of the bonds is April 18, 2017. A request for provisional admission for the listing of the bond as of April 12, 2017 at SIX Swiss Exchange is being submitted.
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The net proceeds of the issue will increase u-blox’s financial flexibility and are used for general corporate purposes.
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The bonds were placed with institutional and private investors in Switzerland under the lead management of Credit Suisse AG and with Zürcher Kantonalbank acting as a co-manager.
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About u-blox
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Swiss u-blox (SIX:UBXN) is a global leader in wireless and positioning modules and chips for the automotive, industrial and consumer markets. u-blox’s solutions enable people, vehicles and machines to locate their exact position and communicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules and software solutions, u-blox is uniquely positioned to empower OEMs to develop innovative solutions for the Internet of Things, quickly and cost-effectively. With headquarters in Thalwil, Switzerland, u-blox is globally present with offices in Europe, Asia, and the USA.
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