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The latest announcement is out from Swiss Prime Site AG ( (CH:SPSN) ).
Swiss Prime Site has fixed the reference price for its CHF 350 million unsubordinated, unsecured green convertible bond maturing in 2032 at CHF 144.81, based on the four-day volume-weighted average share price, and set the initial conversion price at CHF 179.56, reflecting a 24% premium. The terms align with market standards and define the equity-linked economics of this sustainability-labelled financing instrument.
In a parallel transaction, the company’s incentivised conversion invitation on its 2023 CHF 275 million convertible loan resulted in conversion notifications for CHF 252 million, or 92% of the original nominal amount. With less than 15% of that loan still outstanding, Swiss Prime Site plans to repay the remainder at par plus accrued interest in cash, simplifying its capital structure without issuing new shares and potentially reducing future financing costs.
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 listed on SIX Swiss Exchange, focusing on investment in and management of prime commercial properties. The group structures its financing through capital market instruments, including convertible bonds and loans, to support its long-term portfolio and balance sheet strategy.
Average Trading Volume: 165,221
Technical Sentiment Signal: Buy
Current Market Cap: CHF11.59B
For a thorough assessment of SPSN stock, go to TipRanks’ Stock Analysis page.