Yesterday paragon announced it has placed a 5-year bond with a total volume of CHF35m. The bond has a fixed coupon rate that stands at 4.00% per annum.
Last week the company revealed it will use the net proceeds to finance further growth in the automotive sector, fund construction work in Delbrück and refinance its existing liabilities. Back then, the company intended to issue a bond with a volume of CHF30-40m and a coupon rate of 3.625-4.125% per annum.
Klaus Dieter Frers, paragon’s founder and Chairman of the Board, commented that “We are pleased with the very positive feedback from Swiss investors and the terms and conditions of the bond, despite the still volatile capital market environment. We are thus optimizing the financing of our consistent corporate growth.”