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Screenshot of a breaking news alert e-mail from Q2 2017
Swiss interdealer broker Compagnie Financiere Tradition SA (SWX:CFT) took advantage of the attractive market conditions to successfully raise CHF 115 million on the Swiss capital market through the placement of a straight bond.
This new issuance, with a maturity of 5 years to June 2020 and carrying a coupon of 2%, was achieved under the lead management of Credit Suisse and Zürcher Kantonalbank. Through this medium term financing, the Group further strengthens its financial structure.
Raising a substantial amount of capital via this method represents the second move by the company this month to strengthen its capital position,
At the company’s annual general meeting last week, shareholders approved, in addition to the company’s and group’s annual accounts, a dividend of CHF 3.00 per bearer share of Compagnie Financière Tradition SA with a nominal value of CHF 2.50 each.
The dividend will be made against free reserves and shares will be traded ex-dividend as of May 27, 2015.
At that particular time, shareholders in the company voted to increase the existing share capital by a maximum of CHF 1,125,000,00, through the issuance of a maximum of 450,000 shares, up to a maximum of CHF 17,930,277.50.
For the official announcement from Tradition, click here.