Alpiq optimises financial liabilities

Lausanne - Alpiq Holding AG (Alpiq) successfully concluded its second buyback of outstanding senior CHF bonds due 2016–2019. In total, bonds amounting to CHF 340 million were bought back. Concurrently, Alpiq has successfully placed a senior bond for CHF 150 million with a tenor of eight years on the market to attractive conditions. This will further strengthen the balance sheet and improve the maturity profile.

The cash tender offer was limited to a maximum par value of CHF 450 million and concerned six senior bonds due 2016–2019 with a par value amounting to CHF 1.379 billion. The cash tender offer period ended on 19 June 2015. In total, bonds amounting to a par value of CHF 674 million were tendered for buyback. Of these bonds, Alpiq accepted CHF 340 million. The bonds bought back will be cancelled on 30 June 2015 marking the completion of the cash tender offer. The company will have thereby reduced its gross debt, decreased the balance sheet and improved the maturity profile.

During the cash tender offer period, Alpiq has successfully issued a new bond for a par value amounting to CHF 150 million with a tenor of eight years and a coupon of 2.125 percent, and thus continues to optimise the maturity profile. The proceeds from the bond will be used for long-term refinancing purposes. The bond settlement will take place on 30 June 2015.