Financing ·
Sunrise Communications AG priced a new EUR 500 million Senior Secured Notes due 2033 with a 5% annual interest rate to…
SNREYSunrise Communications AG
Sunrise Communications AG priced a new EUR 500 million Senior Secured Notes due 2033 with a 5% annual interest rate to refinance existing debt. The proceeds will fully refinance the 3.875% EUR Senior Unsecured Notes due 2029 and partially refinance the 3.625% EUR Senior Secured Notes due 2029, migrating the company to an all senior secured capital structure. The transaction extends the debt maturity profile with a weighted average life of 5.9 years and a weighted average cost of debt of approximately 2.8%. Sunrise Communications AG is a Swiss telecommunications provider offering mobile, fixed-line, broadband, and TV services.