Compagnie Financière Tradition raises CHF105m through bond placement

Maria Nikolova

The proceeds will be used for general corporate purposes including repayment of existing debt at maturity and to support Tradition’s growth strategy.

Compagnie Financière Tradition SA, an interdealer broker in over-the-counter financial and commodity related products, has announced that it took advantage of attractive market conditions to successfully raise CHF 105 million on the Swiss capital market through the placement of a straight bond.

The new issuance, with a maturity of 6 years to July 2025 and carrying a coupon of 1.75 %, was achieved under the lead management of Credit Suisse and Zürcher Kantonalbank.

The Group says it will use the proceeds from the transaction for general corporate purposes including repayment of existing debt at maturity and to support its growth strategy.

In April this year, the Group posted its results for the first quarter of 2019, marking growth in activity and revenues.

Reported consolidated revenue amounted to CHF 240.2 million, compared with CHF 229.6 million in same period in 2018, up 3.3% in constant currencies. At current exchange rates, consolidated revenue presented an increase of 4.6%.

For the same period, the Group’s consolidated adjusted revenue was CHF 263.6 million, compared with CHF 250.9 million in 2018, an increase of 3.7% at constant exchange rates. The adjusted revenue from interdealer broking business (IDB) was up 3.3% in constant currencies while the forex trading business for retail investors in Japan (Non-IDB) marked an increase of 15.5%.

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