Andermatt Swiss Alps AG successfully issues CHF 50 million bond
The issue was placed with a diversified group of investors including institutional accounts, wealth management clients, family offices and the retail investor base.
The proceeds of the bond with an annual coupon of 3.75 % will be used for general corporate purpose, including the new family hotel with expected project start in 2020.
With the completion of the Andermatt-Sedrun ski connection and the opening of the second hotel (Radisson Blu Hotel Reussen) Andermatt Swiss Alps AG achieved a number of important milestones in 2018. In the future, the focus will be on increasing profitability and intensifying cooperation within the business segments and with Orascom Holding as Andermatt Swiss Alps AG is moving from a destination developer to a destination operator.
The bond is issued by Andermatt Swiss Alps AG as an issuer and placed via Bank Vontobel AG as the sole lead manager with the following key elements:
CHF 50 million bond
2019 - 2024
Coupon: 3.75 % p.a.
Settlement: 9 July 2019
Issue price: 100.00%
Factbox
Andermatt Swiss Alps AG
From vision to destination: During the past several years, Andermatt has developed into a popular year-round holiday resort with numerous attractive features: apartment buildings, hotels and chalets, a Scottish-style 18-hole golf course that offers golfers a welcome challenge, and the SkiArena, not only one of the most modern ski regions in Switzerland but also the largest in Central Switzerland, with pistes from Andermatt to Sedrun and Disentis. With its perfect blend of alpine simplicity and urban sophistication, the five-star deluxe hotel The Chedi Andermatt exudes a special magic, as does the Radisson Blu Hotel Reussen, with its public indoor pool and wellness-and-fitness area. More apartment buildings and hotels will be built in the forthcoming years.
