Compagnie Financière Tradition SA, one of the largest interdealer brokers in terms of over-the-counter (OTC) financial and commodity related products, has raised over $110.6 million (CHF 110 million) on the Swiss capital market via a new straight bond, per a Tradition statement.
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The group managed to raise such a sum by taking advantage of advantageous market conditions on the Swiss capital market, thereby issuing a straight bond in conjunction with Credit Suisse and Zürcher Kantonalbank. The bond itself holds a maturity of six years to November 2022, carrying a coupon rate of 1.625%.
The securing of over $110.6 million is instrumental to Tradition’s long-term plans and prospects, which can now be deployed across the entirety of its operations for development and growth – the financing round is also important as it helps solidifies Tradition’s internal financial structure.