Andermatt Swiss Alps places first bond issue
On November 26, Andermatt Swiss Alps placed its first bond listed on the SIX Swiss Exchange in the amount of CHF 40 million with institutional and private investors. The bond has a term of five years and a coupon of 3.875 percent.
Furthermore, Andermatt Swiss Alps AG (ASA) announces that it has concluded a framework credit agreement with a major bank. The bank financing is structured like a mortgage, with The Chedi Andermatt hotel serving as collateral, ASA says.
When completed, the Andermatt Swiss Alps resort will comprise six hotels, around 500 apartments in 42 buildings, 25 chalets, congress facilities as well as an indoor swimming pool and a golf course. In addition, the Andermatt and Sedrun ski resorts will be merged to form the SkiArena Andermatt-Sedrun. Joint ventures were recently announced: ASA is working with Swiss Property for the Schneefalke apartment building, and with Schmid Immobilien AG for two other apartment buildings. (ah)
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