u-blox Places 60 Million CHF Bond Issue

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.

 

The net proceeds of the issue will increase u-blox’s financial flexibility and are used for general corporate purposes.

 

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.

 

About u-blox

 

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.

 

http://www.u-blox.com