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 April 30, 2023, bond holders converted a total principle amount of CHF 444 million resulting in an outstanding convertible bond amount of CHF 1,206 million. The conversion price is currently set at CHF 187.43, 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. In August 2023, Sika increased both existing Revolving Credit Facilities to CHF 1,100 million each and prolonged the maturity of the 2019 facility to 2028.

Main purpose of the Facilities is to cover the seasonality in the construction business and the pre-financing of acquisitions. The facilities are drawn in part periodically. 

There are no financial covenants in any of the credit facilities.