Andermatt Swiss Alps places 60-million-bond
Andermatt Swiss Alps AG has issued a bond with a volume of 60 million. The annual coupon is 4.375%.
The bond, which has a term of five years and is listed on the SIX Swiss Exchange, has been placed with a diversified group of institutional investors, retail investors and wealth management clients as well as family offices, Andermatt Swiss Alps AG says.
The proceeds from the issue will be used for general corporate purposes and to finance the expansion of the podium (underground parking) including the construction of additional apartment buildings. In this way, the strong demand for real estate is to be satisfied, it is further stated. Currently, four apartment buildings are under construction in Andermatt Reuss, with two more to follow in spring 2021. In addition, the construction of a third hotel is being prepared.
"The successful placement of another bond confirms the confidence of professional investors in the development in Andermatt and enables us to consistently pursue our vision of "The Prime Alpine Destination"," says Raphael Krucker, CEO of Andermatt Swiss Alps AG. (ah)
