Aside from paying its maturing debts, the funds raised from the bond issuance next month will also be used to finance government's liquidity challenges.
The remaining cash outstanding will be sufficient to fund maturing debt in 2016 and committed credit lines ensure short-term liquidity in case of need, thus mitigating the canton's refinancing risk.
The company announced it would suspend share buybacks during this period of slumping prices to maintain its investment-grade credit rating and have the flexibility to retire maturing debt in 2018.