Business news : Head N.V. Subsidiary to Raise $45 Million in Swiss Bond Issue

Amsterdam-based Head NV and its Austrian subsdiary HTM Sport GmbH announced they will issue a new €45 million bond in Switzerland that will be issued by HTM and guaranteed by Head NV.
The securities are Euro denominated, carry a fixed coupon of 5.25 percent payable annually in September, and have a term of 5 years with final maturity on Sept. 26, 2018. The issue price is 101 percent and the redemption price will be 100 percent. The transaction settlement date will be Sept. 26, 2013.

HTM will use the net proceeds of this bond for general corporate purposes and apply to have the bonds listed  on the SIX Swiss Exchange (SIX).

Head NV is organized into five divisions: Winter Sports, Racquet Sports, Diving, Sportswear and Licensing that sell products under the HEAD (alpine skis, ski bindings, ski boots, snowboard and protection products, tennis, racquetball, paddle and squash racquets, tennis balls and tennis footwear, sportswear and swimming products), Penn (tennis balls and racquetball balls), Tyrolia (ski bindings) and Mares (diving equipment) brands.

By press release through sportsonesource