Three underwrite Sfr330m Schmolz deal
Swiss speciality steel firm Schmolz + Bickenbach laid out plans for a Sfr330m ($348m) capital increase on Tuesday as it tries to strengthen its balance sheet. The deal comes less than a week after an unsuccessful takeover attempt by its biggest shareholder.
The rights issue will allow the Sfr360m market capitalisation company to address the same balance sheet problems that had led Russian investment firm Renova to make a bid, Schmolz + Bickenbach said.
The company appointed
BNP Paribas, Commerzbank and Credit Suisse to advise on the capital increase
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