Temenos issues CHF 200m 5-year bond Mittwoch, 27. September 2023 - 18:34

Temenos issues CHF 200m 5-year bond

GENEVA, Switzerland, September 27, 2023 – Temenos AG (SIX: TEMN), the banking software company, today announces the successful placement of a CHF 200m bond, after receiving a Long-Term Issuer Default Rating (IDR) of ‘BBB’ with a stable outlook, and a senior unsecured rating of ‘BBB’, from Fitch Ratings (link to press release here).

The senior unsecured instrument carries an annual fixed-rate coupon of 2.85% and matures in October 2028. The bond is expected to be rated BBB by Fitch. The net proceeds of the transaction will be used for general corporate purposes. The bond attracted strong demand across a broad spectrum of institutional investors as well as private banks.

The bond will be listed on the SIX Swiss Exchange and is expected to be included in the domestic segment of the Swiss Bond Index (SBI).

BNP Paribas (Suisse) SA and ZKB acted as Joint Lead Managers, and BZ Bank acted as Co-Manager on the transaction.

Commenting on the transaction, Temenos CFO, Takis Spiliopoulos, said:

“The strong investor demand reflects Temenos’ unique positioning in a structural growth market and the strength of our cash flow generation and our balance sheet, with our transition to subscription and growth in SaaS driving the growth in our recurring revenue and the growth and predictability of our free cash flow.”

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About Temenos

Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.

For more information, please visit www.temenos.com.