Swiss conditional access firm Kudelski has launched a CHF200m (US$213m) bond due August 2022 to refinance debt.
The notes bear a 1.875% coupon and will be used to refinance an existing bond due December 2016, as well as partially reducing outstanding…
Swiss conditional access firm Kudelski has launched a CHF200m (US$213m) bond due August 2022 to refinance debt.
The notes bear a 1.875% coupon and will be used to refinance an existing bond due December 2016, as well as partially reducing outstanding credit lines.
They were mostly placed with private banks and some institutional investors in Switzerland under the sole lead management of Credit Suisse. Kudelski said Banque Cantonale Vaudoise and Zürcher Kantonalbank acted as co-managers.
The company has been busy investing in the converging digital TV and internet technologies market in the wake of a far-reaching restructuring in 2011.
The strategy saw it snap up Telenor’s TV security unit Conax last year, expanding its customer portfolio in Asia, Latin America, Eastern Europe and Scandinavia.
On 28 April 2015, the group announced a multi-year deal that gives The Walt Disney Company access to its patent portfolio, subject to certain undisclosed limitations.
The agreement came as Kudelski unveiled NAGRA anyCAST CONNECT, a hybrid conditional access/digital rights management solution for connected devices, including set-top boxes and TVs.
“We have completely re-imagined what content security should look like in a multi-network, multi-device, UHD, connected world,” said Maurice van Riek, head of content and asset security for the group’s NAGRA unit.
“With anyCAST Connect, we can secure premium content in a variety of use-cases, using NAGRA’s high-security hardware roots of trust, Trusted Execution Environments (TEE’s), third-party roots of trust, right down to software-only implementations, to ensure that our customers can reach any device they want with a modular level of security.”