Schaffner plans CHF50 million convertible

New York, Dec. 9 - Schaffner Holding AG said it plans to issue up to CHF50 million of convertible bonds.

The company said it hopes to take advantage of current market conditions with the goal of "optimizing its financing structure."

Shareholders will be asked to approve the issuance of additional shares at Schaffner's annual general meeting on Jan. 9.

Schaffner is a Luterbach, Switzerland, maker of electromagnetic products, protection devices and test equipment.

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