Head secures fresh money through euro bond

Head has announced the issuance of a new euro bond worth €45 million. The bond will be issued by HTM in Switzerland and guaranteed by NV, the holding company. An application will be made to list the bonds on the SIX Swiss Exchange (SIX). The securities are euro dominated. The buyers of these bonds will benefit from a 5.25 percent fixed interest rate, which will be paid every September until 2018. The incoming proceeds will be mainly used for general corporate purposes. As previously reported, Head posted moderate growth in the first half of 2013, which was basically achieved through satisfactory sales in its racquet sports division.

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