ALSO strengthens financing structure with successful placement of promissory note (Schuldscheindarlehen)

ALSO Holding AG (SIX: ALSN) has successfully placed a promissory note (Schuldscheindarlehen) of EUR 250 million in the market. The transaction, which was initially launched with EUR 100 million, was significantly oversubscribed due to high demand.

The loan comprises three tranches with maturities of 3.5, 5, and 7 years, each with fixed or variable interest rates. For the variable-rate tranches, ALSO will use interest rate swaps to hedge into long-term fixed rates to sustainably stabilize financing costs.

The placement was executed on terms at the lower end of the price range — a result of the strong demand and the attractive market environment. A total of 26 international banks, cantonal banks, regional state banks, and savings banks participated in the transaction. The transaction was arranged by Deutsche Bank and Landesbank Hessen-Thüringen.

“With this transaction, we are optimizing the long-term balance sheet structure and refinancing the bridge financing for Westcoast,” explains Wolfgang Krainz, CEO of ALSO Holding AG. “The strong demand confirms our investors’ confidence in the ALSO business model and our strategic direction, which includes both organic growth and targeted acquisitions.”