SWITZERLAND. Avolta has completed the partial refinancing of €750 million Senior Notes due in 2027 with the placement of €400 million in Senior Notes due in 2033 and a cash tender offer of up to €400 million to existing bondholders.
The tender offer resulted in bondholders tendering 47.2% or €354 million. The remaining outstanding Senior Notes due 2027 will be either refinanced later in 2026 or kept until maturity and repaid in cash.
Following the transaction, Avolta said its debt structure remains “well balanced” with a mix of fixed/floating rate debt of 64%/36% and an average interest rate of 3.1%.
A statement said, “The current available liquidity position ensures flexibility for any future financing needs of the company.”
Chief Financial Officer Yves Gerster said: “We are very pleased to announce this successful refinancing, which significantly extends our debt maturity and enhances our financial flexibility. Indeed, the spread vs. the seven-Year Bund of 185bps represents the lowest in our company’s history and underscores investor confidence in Avolta.” ✈
