Tridonic Appoints New CEO; Signify Announces EUR 1.275 Billion Eurobonds

Tridonic, the lighting technology company of the Zumtobel Group, welcomed its new CEO on May 1, 2020. Meanwhile, Dutch lighting company Signify report the pricing of its Eurobond to refinance the bridge loan for the acquisition of Cooper Lighting.

Hugo Rohner has become the Chief Executive Officer (CEO) of Tridonic of the Austria based Zumtobel Group. He will reports directly to CEO of the Zumtobel Group, Alfred Felder. The previous CEO of Tridonic, Hedwig Maes, took the position in September 2019 and stepped down after eight months. 

(Image: Tridonic)

In response to the current coronavirus pandemic, Tridonic reported that its production facilities and distribution centers operate normally with intense precaution measures at the moment.

The other European lighting company Signify posted on April 30 the successful pricing of its inaugural EUR 1.275 billion (US$ 1.395 billion) Eurobond Offering comprising of EUR 675 million (US$ 738.82 million) fixed rate notes due 2024 with a coupon of 2.000% and EUR 600 million (US$ 656.73 million) fixed rate notes due 2027 with a coupon of 2.375%.

Signify noted that the net proceeds of the notes will be used to refinance the bridge loan used to finance the acquisition of Cooper Lighting, which was completed on March 2, 2020.

“We are delighted with the launch of our inaugural Eurobond and with the strong investor interest shown in Signify,” said René van Schooten CFO of Signify. “This marks a significant step in finalizing our financing strategy following our acquisition of Cooper Lighting.”

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