Bonds & Credit Facilities

Sika's bonds show a well balanced and conservative debt maturity profile.

In 2018, Sika issued a convertible bond in the amount of CHF 1,650 million, due 2025, to partially finance the acquisition of its own shares from Compagnie de Saint-Gobain. As of December 31, 2022, bond holders converted a total principle amount of CHF 383 million resulting in an outstanding convertible bond amount of CHF 1,267 million. The conversion price is currently set at CHF 188.45, and will be adjusted on a yearly basis in case dividend paid to shareholders is higher than CHF 1.85 per share.
 

Other available credit facilities

In 2019 and 2021, Sika signed two Revolving Credit Facilities in the amount of CHF 750 million each, both due 2026. Main purpose of the Facilities is to cover the seasonality in the construction business and the pre-financing of acquisitions.

In November 2021, Sika installed a bridge credit facility of EUR 5,000 million, due in May 2024, to finance the planned acquisition of MBCC. After the issuance of bonds in the amount of CHF 600 million in November 2022, the bridge credit facility was reduced to EUR 4,400 million.

Sika currently does not use any of these credit facilities and there are no financial covenants.