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FINWIRES

Sika Issues EUR1 Billion Hybrid Bonds in Two Tranches

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Sika (SIKA.SW) said Wednesday it issued its inaugural hybrid capital bond in two equal tranches with a combined principal amount of 1 billion euros.

The issuance comprised 500 million euros of 4.375% hybrid bond with a first call date of Feb. 26, 2032, and a first reset date of May 26, 2032, alongside 500 million euros of 4.875% hybrid bond with a first call date of Feb. 26, 2035, and a first reset date of May 26, 2035.

The specialty chemicals company earmarked net proceeds from the issuance for general corporate expenditures, including bolt-on acquisitions and debt refinancing.

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