K+N issues inaugural bonds for CHF 400 million
Kuehne + Nagel International has issued two inaugural bonds, as part of its ordinary financing efforts. The proceeds of the bonds will be used for general corporate purposes.
The first CHF 200 million bond has a fixed coupon of 0.02% and a tenor of three years and five months, maturing on 18 November 2022. The second CHF 200 million bond has a fixed coupon of 0.20% and a tenor of six years, maturing on 18 June 2025.
Markus Blanka-Graff, K+N International’s CFO, pointed out that "these bond issues allow us to benefit from currently attractive interest rates and optimise our financing structure, while enhancing our strategic flexibility. We see it as an additional opportunity to engage with the Swiss capital market to support our strategy." (mw)