Inter-dealer broker, Compagnie Financière Tradition SA has managed to raise $121.5 million (CHF115 million) on the Swiss capital market via straight bonds, according to a Compagnie Financière statement.
The raising of such funds was the result of opportunism by Compagnie Financière and attractive market conditions in Swiss capital markets. In particular, the new issuance has a maturity of 5 years to June 2020, carrying a coupon of 2%.
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The bonds were under sold under the administering management of Credit Suisse and Zürcher Kantonalbank and should ultimately pay dividends, so to speak, for Compagnie Financière, that saw and took an opportunity to strengthen its financial structure.
Last month, Compagnie Financière Tradition made headlines after posting its revenues in Q1 2015, having increased to $237.7 million (CHF227.3 million), and marking a rise of 2.5% QoQ at current exchange rates and 2.8% in constant currencies. In Q1 2015, the group’s consolidated adjusted revenue was $254.2 million (CHF 243.1 million), though the figure is higher by 3.4% at constant exchange rates.