Sika AG, headquartered in Baar, Switzerland, is redeeming its CHF 150 mil. 4.5% bond issue.

The five-year loan placed in 2000 to finance growth and raise the company’s liquidity, was scheduled to be paid back on July 20, 2005.

Sika’s syndicated credit facility is being applied to finance the redemption. More advantageous rates will lower the company’s ongoing capital costs.