Swiss banks underwrite Sfr470m Sonova takeover loan

Swiss hearing aid firm Sonova used a Sfr470m loan to acquire US cochlear implant producers Advanced Bionics Corporation for $489m (Sfr493m) in cash on Monday.

  • 13 Nov 2009

The takeover will be financed with cash reserves of Sfr40m and with the underwritten loan, which comprises a Sfr240m three year amortising tranche and a Sfr230m five year line.

Credit Suisse, UBS and Zürcher Kantonalbank are mandated lead arrangers..

The total cost of the acquisition was Sfr510m (including Sfr10m of ...

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