February 14, 2017
gategroup successfully completes CHF 300 million bond issuance
ZURICH, February 14, 2017 – gategroup successfully raised CHF 300 million through the issuance of a fixed rate 5-year senior bond with a final maturity on February 28, 2022. The bond with a coupon of 3 % p.a. has been issued by gategroup Finance (Luxembourg) S.A. and is guaranteed by its parent company gategroup Holding AG. Settlement date of the bonds is February 28, 2017. gategroup will apply for the listing of the new bond on the SIX Swiss Exchange.
gategroup took advantage of a constructive market environment and strong investor demand allowed the company to raise funding at highly attractive conditions. The book was well oversubscribed which led the transaction to accelerate and price at the tight end of the initial price guidance. The company intends to apply part of the proceeds of the offering to repay a bridge facility used to finance the acquisition of Servair.
“The new five-year bond is fully aligned with gategroup’s strategy of increasing operational and financial flexibility, securing a long term maturity profile and maintaining multiple sources of funds at optimal cost” said Christoph Schmitz, Chief Financial Officer of gategroup.
BNP Paribas, Credit Suisse and UBS acted as joint bookrunners and lead managers for the bond issuance.
gategroup is a leading global provider of products, services and solutions relating to a passenger’s onboard experience. It specializes in catering and hospitality; provisioning and logistics; and onboard products and services to companies that serve people on the move. In 2015, gategroup achieved a total revenue of CHF3.0 billion and an adjusted EBITDA of CHF169.4 million. The company currently employs 39,000 people worldwide. For further information: www.gategroup.com
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