Deals & Cases

10 of 547 results found.
10/22/2019

On October 11, 2019, UBS Group AG was successfully substituted for UBS Group Funding (Switzerland) AG as issuer under all 34 outstanding additional tier 1 instruments and bail-in bonds (collectively, the Notes) issued by UBS Group Funding (Switzerland) AG and with an aggregate principal amount of approximately USD 40 bn.

On October 11, 2019, UBS Group AG was successfully substituted for UBS Group Funding (Switzerland) AG as issuer under all 34 outstanding additional tier 1 instruments and bail-in bonds (collectively, the Notes) issued by UBS Group Funding (Switzerland) AG and with an aggregate principal amount of approximately USD 40 bn. In connection with this issuer substitution, all rights and obligations of UBS Group Funding (Switzerland) AG under the Notes, as well as under the related internal loan agreements pursuant to which the net proceeds received from the issuance of the Notes were onlent to subsidiaries of UBS Group AG were transferred to UBS Group AG.


Homburger advised UBS with respect to all regulatory and transactional aspects of Swiss law. The Homburger team included partners Benedikt Maurenbrecher, Stefan Kramer (both Banking and Finance | Capital Markets) and Stefan Oesterhelt (Tax), as well as counsel Lee Saladino, associate Olivier Baum (both Banking and Finance | Capital Markets) and paralegal Ganna Goncharova (Banking and Finance).

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10/17/2019

On September 11, 2019, Strides Pharma Science Limited (Strides), a global pharmaceutical company listed on the Bangalore Stock Exchange and National Stock Exchange of India Limited headquartered in Bangalore, India announced that it acquired a majority stake in Fairmed Healthcare AG (Fairmed), a Switzerland based company with a portfolio of high-quality generic products encompassing prescription and over-the-counter drugs across several therapeutic segments.

On September 11, 2019, Strides Pharma Science Limited (Strides), a global pharmaceutical company listed on the Bangalore Stock Exchange and National Stock Exchange of India Limited headquartered in Bangalore, India announced that it acquired a majority stake in Fairmed Healthcare AG (Fairmed), a Switzerland based company with a portfolio of high-quality generic products encompassing prescription and over-the-counter drugs across several therapeutic segments. Strides announced that its vast international product portfolio and Fairmed’s market access in the DACH region is a highly complementary combination to pivot an extensive growth in the coming years.


Homburger has advised Strides Pharma Science Limited in the transaction. The Homburger team was led by partners Frank Gerhard (Corporate | M&A) and Reto Heuberger (Tax) and included associates Laetitia Fracheboud (Tax), Christophe Chatelanat and Aron Waltuch (both Corporate | M&A) as well as junior associates Oriana Schöni and Nicolas Wetzel (both Corporate | M&A).

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10/15/2019

On 15 October 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new series of USD-denominated Exchange Traded Products (ETPs) on the SIX Swiss Exchange.

On 15 October 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new series of USD-denominated Exchange Traded Products (ETPs) on the SIX Swiss Exchange. These products (Ticker: ABNB) are linked to the performance of BNB, the native token of the Binance Exchange, the largest crypto currency exchange in terms of trading volume globally, and one of the three largest utility tokens with multiple use cases. The products are fully collateralized by the underlying (BNB), which are stored with an independent custodian (Kingdom Trust). This series is the first ETP with an underlying crypto-asset that uses a Proof of Stake-based consensus mechanism wherein blocks are created by a group of pre-selected validators.


Homburger advised Amun with respect to all aspects of Swiss law. The Homburger team was led by partner Benjamin Leisinger (Capital Markets) and comprised associate Urs Meier and paralegal Ganna Goncharova (both Banking and Finance).

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10/10/2019

On September 23, 2019, Alcon Finance Corporation successfully completed its issuance of USD 500 m 2.750% Senior Notes due 2026, USD 1 bn 3.000% Notes due 2029 and USD 500 m 3.800% Notes due 2049 (collectively, the Notes).

On September 23, 2019, Alcon Finance Corporation successfully completed its issuance of USD 500 m 2.750% Senior Notes due 2026, USD 1 bn 3.000% Notes due 2029 and USD 500 m 3.800% Notes due 2049 (collectively, the Notes). The Notes are guaranteed by Alcon group's Swiss parent company Alcon Inc. The offering of the Notes was done in reliance on Rule 144A and Regulation S under the U.S. Securities Act.


Homburger advised Alcon on all Swiss law aspects of the transaction. The Homburger team comprised partners Frank Gerhard (Corporate | M&A), Jürg Frick (Banking and Finance) and Stefan Oesterhelt (Tax), as well as associates Andreas Josuran and Andrea Ziswiler (both Capital Markets).

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10/07/2019

On August 28, 2019, Credit Suisse Group AG (CSG) launched, and on September 11, 2019, CSG successfully completed, its issuance of CHF 525 m 3.000 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes (the Notes).

On August 28, 2019, Credit Suisse Group AG (CSG) launched, and on September 11, 2019, CSG successfully completed, its issuance of CHF 525 m 3.000 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes (the Notes). The Notes are additional tier 1 (AT1) instruments that are eligible to fulfill CSG's Swiss going concern requirements.


The Notes are the first publicly offered bonds in Switzerland with an interest rate based on the Swiss Average Rate Overnight (SARON), the alternative reference rate for CHF LIBOR. Specifically, the interest rate on the Notes will be periodically reset over a mid-swap rate based on SARON rather than CHF LIBOR.


The Notes are governed by Swiss law, and have been admitted to trading, and application has been made for a listing of the Notes, on the SIX Swiss Exchange.


Homburger advised Credit Suisse with respect to all aspects of Swiss law. The Homburger team was led by partner René Bösch (Capital Markets) and included partners Benjamin Leisinger (Capital Markets) and Dieter Grünblatt (Tax), as well as counsel Lee Saladino and associate Andrea Ziswiler (both Capital Markets).

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10/07/2019

On September 4, 2019, Credit Suisse Group AG (Credit Suisse) launched, and on September 11, 2019 successfully completed, the issuance of USD 2 bn 2.593% Fixed Rate|Floating Rate Senior Callable Notes due 2025 (the Notes) under its U.S. Senior Debt Program.

On September 4, 2019, Credit Suisse Group AG (Credit Suisse) launched, and on September 11, 2019 successfully completed, the issuance of USD 2 bn 2.593% Fixed Rate|Floating Rate Senior Callable Notes due 2025 (the Notes) under its U.S. Senior Debt Program. The Notes are bail-inable bonds that are eligible to count towards Credit Suisse's Swiss gone concern requirement.


The Notes are the first Swiss law-governed bonds with a floating rate of interest that is determined by reference to the Secured Overnight Financing Rate (SOFR), the proposed alternative reference rate to USD LIBOR. Specifically, during the last year prior to maturity, the interest rate on the Notes will reset quarterly and be based on compounded daily SOFR.


The offering of the Notes was done in reliance on Rule 144A and Regulation S under the U.S. Securities Act. The Notes have been admitted to trading, and application has been made for a listing of the Notes, on the SIX Swiss Exchange.


Homburger advised Credit Suisse with respect to all aspects of Swiss law. The Homburger team was led by partner René Bösch (Capital Markets) and included partners Benjamin Leisinger (Capital Markets) and Dieter Grünblatt (Tax), as well as counsel Lee Saladino and associate Andrea Ziswiler (both Capital Markets).

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10/07/2019

On September 10, 2019, Credit Suisse Group AG (Credit Suisse) successfully completed the issuance of EUR 1 bn 1.000% Fixed Rate Senior Notes due 2029 (the Notes) under its Euro Medium Term Note (EMTN) Programme.

On September 10, 2019, Credit Suisse Group AG (Credit Suisse) successfully completed the issuance of EUR 1 bn 1.000% Fixed Rate Senior Notes due 2029 (the Notes) under its Euro Medium Term Note (EMTN) Programme. The Notes are bail-inable bonds that are eligible to count towards Credit Suisse's Swiss gone concern requirement.


Homburger advised Credit Suisse with respect to all aspects of Swiss law. The Homburger team was led by partner René Bösch (Capital Markets) and included partners Benjamin Leisinger (Capital Markets) and Dieter Grünblatt (Tax), as well as counsel Lee Saladino and associate Andrea Ziswiler (both Capital Markets).

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10/04/2019

On 4 October 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new series of CHF-denominated Exchange Traded Products (ETPs) on the SIX Swiss Exchange.

On 4 October 2019, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new series of CHF-denominated Exchange Traded Products (ETPs) on the SIX Swiss Exchange. These products (Ticker: ABBA) are linked to the performance of the "Amun Bitcoin Suisse Index". The products are fully collateralized by the underlying components, at the time of launch consisting of Bitcoin (BTC, 88.62%) and Ethereum (ETH, 11.38%), which are stored with Bitcoin Suisse in Switzerland. This series is the first pure Swiss ETP.


Homburger advised Amun with respect to all aspects of Swiss law. The Homburger team was led by partner Benjamin Leisinger (Capital Markets) and comprised associate Urs Meier and paralegal Ganna Goncharova (both Banking and Finance).

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09/05/2019

These are the first benchmark deals of Credit Suisse Group AG using interest rates that are based on one of the new risk-free rates established as an alternative to LIBOR, and the AT1 issuance is the first public issuance in the Swiss market to reset over mid-swaps based on SARON.

These are the first benchmark deals of Credit Suisse Group AG using interest rates that are based on one of the new risk-free rates established as an alternative to LIBOR, and the AT1 issuance is the first public issuance in the Swiss market to reset over mid-swaps based on SARON. Homburger advised Credit Suisse on the structuring, documentation and launch of these innovative transactions. Homburger also recently supported the National Working Group for Reference Rates in Swiss Francs in the development of preferred interest rate provisions for SARON floating rate notes, including sample fallback language.


The Homburger Team included partners René Bösch and Benjamin Leisinger (both Banking and Finance and Capital Markets) as well as Dieter Grünblatt (Tax), Lee Saladino (Counsel, Capital Markets) and Andrea Ziswiler (Associate, Banking and Finance and Capital Markets).


Homburger advised Credit Suisse Group AG on the first publicly offered bond issuance in the Swiss market with an interest rate based on SARON


Homburger advised Credit Suisse Group AG on its issuance of USD 2 bn bail-inable notes, which was the first Swiss law-governed bond issuance with an interest rate determined by reference to SOFR


Homburger advised Credit Suisse Group AG on its issuance of EUR 1 bn bail-inable notes

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09/05/2019

On September 4, 2019, UBS Group AG (the Issuer) successfully completed the issuance of SGD 750 m 4.85 per cent. Tier 1 Capital Notes (the Notes).

On September 4, 2019, UBS Group AG (the Issuer) successfully completed the issuance of SGD 750 m 4.85 per cent. Tier 1 Capital Notes (the Notes). The Notes are "high trigger" regulatory capital instruments that are eligible to fulfill UBS Group AG's Swiss going concern requirements.


The Notes feature a full contractual write-down if (among other events) UBS Group AG's consolidated common equity tier 1 capital falls below 7 per cent. of its consolidated risk weighted assets (a so-called "Trigger Event"). This means that, in the case of the occurrence of a Trigger Event, the Notes will be fully written-down prior to, or at the latest concurrently with, UBS Group AG's other outstanding (high-trigger and low-trigger) regulatory capital write-down instruments. Since the Notes are eligible to fulfill Swiss going concern requirements, they also qualify for an exemption from the Swiss withholding tax that would normally be applicable to bonds directly issued by the Swiss-domiciled Issuer. The Notes are traded on the SIX Swiss Exchange.


Homburger advised UBS with respect to all regulatory and transactional aspects of Swiss law. The Homburger team included partners Benedikt Maurenbrecher, Stefan Kramer (both Banking and Finance | Capital Markets) and Stefan Oesterhelt (Tax), as well as counsels Lee Saladino and Eduard De Zordi and associate Olivier Baum (all Banking and Finance | Capital Markets).

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