Constantia Flexibles early redeems privately placed hybrid bond to Raiffeisen Landesbank Oberösterreich; €100M of bonds issued in 2008 paid back in April 2011, with remaining €150M at interest rate of 9.7% to be paid back as per June 30

VIENNA , June 18, 2014 (press release) – Constantia Flexibles, one of the world ́s leading manufacturers of flexible packaging and labels early redeems a privately placed hybrid bond to Raiffeisen Landesbank Oberösterreich.

The bond was issued in 2008 with a total volume of EUR 250 million. In April 2011 EUR 100 million were paid back. The remaining EUR 150 million , at an interest rate of 9.7% will be paid back as per June 30, 2014 . The notice of termination was dated April 29, 2014.

Peter Frauenknecht, CFO of Constantia Flexibles: “ Due to t he strong cash flow development 2013 and the excellent liquidity of the Group the redemption can be made mostly from existing liquid funds.”

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.