Amer Sports issues EUR 60 million Hybrid Bond
STOCK EXCHANGE RELEASE
February 26, 2009 at 9:10 am
Amer Sports Corporation has resolved to issue a EUR 60 million hybrid bond in order to strengthen the Group's capital structure and to repay existing debt. Following the hybrid bond issue, Amer Sports net gearing strengthens to slightly below 100% from year-end 2008 of 121%. The coupon rate of the bond is 12.0% per annum. The bond has no maturity but the company may call the bond after three years.
Hybrid bond is a bond that is subordinated to the company's other debt obligations and will be treated as equity in the IFRS financial statements. Hybrid bond holding does not confer the right to vote at shareholder meetings and will not dilute the holdings of the current shareholders.
For further information, please contact:
Pekka Paalanne, Executive Vice President and CFO, tel. +358 9 7257 8212
Tommy Ilmoni, Vice President, IR and Corporate Communications, tel. +358 9 7257 8233
AMER SPORTS CORPORATION
Communications
Ms Maarit Mikkonen
Communications Manager
Tel. +358 9 7257 8306, e-mail: maarit.mikkonen@amersports.com
DISTRIBUTION:
NASDAQ OMX Helsinki
Major media
AMER SPORTS CORPORATION
Amer Sports (www.amersports.com) is the world's leading sports equipment company with internationally recognized brands including Salomon, Wilson, Precor, Atomic, Suunto, Mavic and Arc'teryx. All Amer Sports companies develop and manufacture technically advanced products that improve the performance of active sports participants. The Group's business is balanced by its broad portfolio of sports and presence in all major markets.