Sika has successfully placed its inaugural hybrid capital bond totaling EUR 1 billion, split into two EUR 500 million tranches. The first tranche is a 30NC5.75-year bond with a 4.375% coupon, first call date on February 26, 2032, and first reset date on May 26, 2032, issued at 99.397% with a yield of 4.500%. The second tranche is a 30NC8.75-year bond with a 4.875% coupon, first call date on February 26, 2035, and first reset date on May 26, 2035, issued at 99.153% with a yield of 5.000%. The bonds were placed into the European institutional fixed income investor base with Citigroup acting as Global Coordinator and BofA Securities, Citigroup, and UBS Investment Bank as active bookrunners, and will be listed on the regulated market of Euronext Dublin. The transaction is structured to receive 50% equity treatment at S&P and demonstrates Sika's commitment to the A- issuer rating by S&P, with the outlook having been revised from Negative to Stable on Monday, August 17, 2026. Net proceeds will be used for general corporate purposes including financing of bolt-on acquisitions and refinancing of existing financial indebtedness.
Bank of America Corp
UBS Group AGSika AGSika successfully placed EUR 1 billion hybrid capital bond, strengthening its capital structure and supporting its A- rating.
Citigroup Inc.