Alpiq to launch buyback of outstanding bonds and issuance of a new bond

Lausanne – Alpiq Holding AG (Alpiq) announces the launch of a cash tender offer of up to CHF 500 million for its outstanding senior CHF bonds due 2015-2018. The bonds bought back will be cancelled. Concurrently, Alpiq is launching a new CHF senior unsecured bond with a tenor of 10 years.

The objective of the announced transactions is to reduce Alpiq's gross debt and future funding costs while also extending its maturity profile.

The tender offer will last from 7 July 2014 to 17 July 2014. The final result of the tender offer and the final terms and conditions of the bond issuance will be communicated by separate media releases.