GF procures long-term funding
GF raised today CHF 200 million on the Swiss debt capital market. The new bond has a term of 9.5 years and carries a coupon of 0.95%.
The bond has been issued through the lead banks Credit Suisse and Zürcher Kantonalbank at a price of 100.375%. Through this emission, GF is taking advantage of the significant improvement of capital market conditions, which took place since April 2020. With the transaction, GF further expands its financial flexibility to pursue long-term strategic targets and to potentially repay existing bank loans.
The bond will be listed on the SIX Swiss Exchange and the payment day of the bond will be 25 September 2020.
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GF procures long-term funding
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GF comprises three divisions: GF Piping Systems, GF Casting Solutions, and GF Machining Solutions. Founded in 1802, the Corporation is headquartered in Switzerland and present in 33 countries with 142 companies, 56 of them production facilities. GF’s 14’678 employees generated sales of CHF 3’720 million in 2019. GF is the preferred partner of its customers for the safe transport of liquids and gases, lightweight casting components, and high-precision manufacturing technologies.
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