UZWIL, SWITZERLAND — Bühler Group has repaid the first tranche of a dual-tranche bond in the amount of CHF 180 million ($193.97 million) that has helped finance investment and acquisition growth opportunities, the company announced Dec. 22.
In 2017, the company raised CHF 420 million ($452.4 million) through the issue of a dual-tranche Swiss franc denominated senior bond (CHF 180 million Tranche A, CHF 240 million Tranche B) to accelerate its growth plans and expand its investment and acquisition capabilities. It was the first time in its 160-year history that Bühler raised capital on the financial markets.
The dual tranche enabled the company to finance its growth by investing into its global production and innovation network, as well as acquire the Austrian Haas Group, a world market leader in wafer, biscuit and confectionery production systems.
“The proceeds from the bond allowed us to successfully accomplish the Haas acquisition, to continue the modernization of our production sites, to build the CUBIC innovation campus in Uzwil, and to expand our global sales and services network,” said Stefan Scheiber, chief executive officer of Bühler Group.
Bühler’s continued strong financial position enables the company to remain independent in the long term while investing in new solutions and services. The second tranche of the bond of CHF 240 million ($258.35 million) is due in December 2026. The bond is listed on the SIX Swiss Exchange.