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
June 18, 2014
– 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.”