Barry Callebaut: bond issue largely oversubscribed to

(CercleFinance.com) - Swiss chocolate producer Barry Callebaut said on Tuesday that it has raised 450 million Swiss francs (about 420 million euros) through a bond issue that was "heavily oversubscribed" to.


The maker of high-quality chocolate and cocoa products announced its second German "Schuldscheindarlehen" loan in two years, raising the equivalent of 430 million Swiss francs in euros and 20 million Swiss francs in Swiss francs.

The deal will strengthen the group's long-term liquidity structure by extending the average maturity at attractive interest rates, reducing its reliance on short-term funding sources, Barry Callebaut said.

It has an average duration of 6.9 years and an average interest rate of 1.68%.

The offer attracted German, European, and Asian banks, Barry said.

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