Dätwyler Holding has placed a CHF 240 million fixed rate bond on 15 June 2022. The bond bears interest of 2.1% and has a term of five years. Zürcher Kantonalbank managed the placement of the bond based on an issue price of 100.035%. The bond will be paid on 13 July 2022 and subsequently listed on the SIX Swiss Exchange.
The company will use the proceeds of the bond issue to repay bank loans raised to finance the strategically important acquisition of US company QSR. With QSR, Datwyler will become the leading global supplier of system-critical sealing solutions for electrical connectors for various industries. QSR is an ideal fit for Datwyler in terms of strategy, core competencies and culture and will accelerate profitable growth. With five plants and supporting units in the USA, Mexico and China, the US company counts with 1’250 employees and has generated sales of USD 164 million in 2021.
Kellerhals Carrard has advised Dätwyler on this transaction. The team was lead by Thomas Bähler (partner, coporate/m&a, pictured left), Dominik Oberholzer (partner, coporate/m&a, pictured right), Kathrin Enderli and Michael Kremer.