Winterthur, Switzerland - Automotive acoustics supplier Autoneum Holding AG said 20 Nov that it has successfully raised CHF 125 million through issuing a public bond. The bonds have a 4.375 percent coupon and will be redeemable in 5 years.
Autoneum will use the net proceeds to partially repay existing bank loans.
Placing this bond only 1.5 years after going public has enabled Autoneum to diversify its financial resources, to extend its debt profile and to take advantage of the current u Swiss capital market environment, the company said.
The bonds were placed with institutional and private investors in Switzerland by a-syndicate of Credit Suisse AG, UBS AG and Zürcher Kantonalbank.
Autoneum is a global producer of vehicle acoustic and thermal management systems, offering components, modules and complete systems for interior, engine bay and underbody as well as heat-protection solutions. Its customers include leading vehicle producers in Europe, North America, South America and Asia.