u-blox Places 60 Million CHF Bond Issue
THALWIL, Switzerland, March 21, 2017 /PRNewswire/ --
Today, u-blox Holding AG (SIX Swiss Exchange: UBXN) successfully raised CHF 60 million debt through the issuance of a fixed rate domestic straight bond. The bonds bear a 1.375% coupon and have a duration of 6 years (final maturity April 18, 2023). Expected payment date of the bonds is April 18, 2017. A request for provisional admission for the listing of the bond as of April 12, 2017 at SIX Swiss Exchange is being submitted.
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The net proceeds of the issue will increase u-blox's financial flexibility and are used for general corporate purposes.
The bonds were placed with institutional and private investors in Switzerland under the lead management of Credit Suisse AG and with Zürcher Kantonalbank acting as a co-manager.
Swiss u-blox (SIX:UBXN) is a global leader in wireless and positioning modules and chips for the automotive, industrial and consumer markets. u-blox's solutions enable people, vehicles and machines to locate their exact position and commnicate wirelessly over cellular and short range networks. With a broad portfolio of chips, modules and software solutions, u-blox is uniquely positioned to empower OEMs to develop innovative solutions for the Internet of Things, quickly and cost-effectively. With headquarters in Thalwil, Switzerland, u-blox is globally present with offices in Europe, Asia, and the USA.
This release contains certain forward-looking statements. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the u-blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u-blox is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.
This press release is published in German and English. Should the German translation differ from the English original, the English version is binding.
Thomas Seiler, Chief Executive Officer
Roland Jud, Chief Financial Officer
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