Sunrise Communications AG has announced the successful pricing of a new issuance of EUR 550 million in Senior Secured Notes, due in 2032. This marks Sunrise's debut high yield financing transaction following its spin-off from Liberty Global Ltd. in November 2024. The Notes will accrue interest at a rate of 4.625% per annum and are issued at a price equal to 100% of their face value. The proceeds from these Notes will be used to fully refinance the existing EUR Term Loans B maturing in 2029, including associated derivatives, fees, and expenses. The closing of the sale of the Notes, subject to customary conditions, is expected on or about 28 May 2025. The transaction extends Sunrise's debt maturity profile and optimizes its weighted average cost of debt to approximately 2.7%.
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