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First transaction in the Swiss bond market as next step of comprehensive refinancing
Pfäffikon SZ, June 13, 2012 – OC Oerlikon Corporation AG, Pfäffikon ("Oerlikon") today announced the successful placement of a 4 year CHF 300 million straight bond with a coupon of 4.25 %, taking advantage of the strong financial and operational performance of Oerlikon and favourable market conditions with historically low interest rates. The issue of the domestic bond is conditional for the effectiveness and utilisation of the new Syndicated Credit Facility announced on June 6, 2012. Payment date of the straight bond will be on July 13, 2012. The net proceeds will be used for the refinancing of the existing credit facilities from the financial restructuring in 2010 which is expected to be finalized in July 2012. The new financing structure will significantly reduce Oerlikon’s cost of financing, increase flexibility and diversify the company’s funding sources.
Oerlikon CEO Michael Buscher comments: “We successfully executed our first transaction in the Swiss bond market representing the next milestone in the optimization of the balance sheet that reflects our return to financial health. The strong demand demonstrates the re-established confidence from the financial community, and in particular of the Swiss bond market investors, in the underlying performance of Oerlikon. Oerlikon CFO Jürg Fedier added: “The successful placement of the Bond, the new Syndicated Credit Facility and a disciplined use of our cash position will allow us to repay the existing credit facilities from the financial restructuring at significant better terms and higher flexibility some two years ahead of maturity”.
The issue was led by UBS Investment Bank, Credit Suisse AG, Deutsche Bank AG and Royal Bank of Scotland plc.
About Oerlikon
Oerlikon (SIX: OERL) is a leading high-tech industrial group specializing in machine and plant engineering. The Company is a provider of innovative industrial solutions and cutting-edge technologies for textile manufacturing, drive, vacuum, thin film, coating, and advanced nanotechnology. A Swiss company with a tradition going back over 100 years, Oerlikon is a global player with more than 17 000 employees at over 150 locations in 38 countries and sales of CHF 4.2 billion in 2011. The Company invested in 2011 CHF 213 million in R&D, with over 1 200 specialists working on future products and services. In most areas, the operative businesses rank either first or second in their respective global markets.
This document does neither constitute an offer to buy or to subscribe for securities of OC Oerlikon Corporation AG nor a prospectus within the meaning of applicable Swiss law. Investors should make their decision to buy or to subscribe to securities solely based on the listing prospectus. Investors are furthermore advised to consult their bank or financial adviser before making any investment decision.
This document does not constitute a prospectus pursuant to art. 652a and/or 1156 of the Swiss Code of Obligations or art. 27 et seq. of the listing rules of the SIX Swiss Exchange. A decision to invest in securities of OC Oerlikon Corporation AG should be based exclusively on the listing prospectus.
The securities described herein are offered publicly in Switzerland only. The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, in any jurisdiction in which such offer or solicitation would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any jurisdiction.
This document is not being issued in the United States of America and should not be distributed or otherwise transmitted into the United States or to U.S. persons (as defined in the U.S. Securities Act of 1933, as amended (the "Securities Act")) or publications with a general circulation in the United States. This document does not constitute an offer or invitation to subscribe for or to purchase any securities in the United States of America. The Securities of OC Oerlikon Corporation AG have not been and will not be registered under the Securities Act and are not being offered in the United States or to U.S. persons.
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