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Swiss Prime Site AG ( (CH:SPSN) ) just unveiled an update.
Swiss Prime Site AG has issued a CHF 350 million senior unsecured green convertible bond maturing in 2032, carrying a zero percent coupon and an initial conversion premium of 24.0% over the volume-weighted average share price set over four trading days. The bond is convertible into existing registered shares and will be redeemed at par in March 2032, with provisions for early redemption under customary conditions.
The company plans to use the net proceeds to partially refinance an outstanding CHF 275 million convertible loan to ELM B.V. and to fund eligible green real estate projects in line with its Green Financing Framework. By adding this equity-linked, interest-free instrument, Swiss Prime Site extends the average maturity of its liabilities, reinforces its conservative and diversified funding mix, and secures capital on attractive terms, while committing to a 90-day post-settlement lock-up on further equity transactions.
The most recent analyst rating on (CH:SPSN) stock is a Buy with a CHF149.00 price target. To see the full list of analyst forecasts on Swiss Prime Site AG stock, see the CH:SPSN Stock Forecast page.
More about Swiss Prime Site AG
Swiss Prime Site AG is a Swiss real estate company focused on high-quality commercial and mixed-use properties, with its shares listed on SIX Swiss Exchange. The group pursues a diversified and conservative financing strategy while increasingly aligning its capital structure with sustainable, green real estate investments under its Green Financing Framework.
Average Trading Volume: 134,245
Technical Sentiment Signal: Buy
Current Market Cap: CHF11.22B
See more insights into SPSN stock on TipRanks’ Stock Analysis page.