Temenos issues CHF175m bond
GENEVA, Switzerland, 7 November 2018 – Temenos AG (SIX: TEMN), the banking software company, today announces the issuance of a new CHF175m bond.
Temenos issued a five year senior unsecured bond with a coupon of 1.875% that matures in November 2023. This latest bond builds on the success of the previous four bonds issued by Temenos over the last 5 years.
The bond attracted strong demand across a broad spectrum of investors, including private and retail banks as well as pension funds and asset managers.
The proceeds from the bond will be used for the repayment of debt and general corporate purposes. Credit Suisse and BZ Bank executed the transaction on behalf of Temenos. The bond will be listed on the SIX Swiss Exchange.
Max Chuard, CFO and COO of Temenos, said:
"This is the fifth bond Temenos has issued since 2013 and the level of investor demand reflects the strength of our business and the growth we have delivered over the last few years. With today's issuance we have been able to raise new financing on attractive terms, strengthening our balance sheet and extending our maturity profile."