Capital Markets

No matter how new, abstract or complex the issue, we develop and document tailored financial instruments that are legally possible and successful in the market. This makes us one of the most innovative architects in the Swiss financial center.

  • Equity transactions such as IPOs, capital increases, block trades, private placements and other corporate finance transactions
  • Equity-linked instruments, such as convertible, mandatory convertible and exchangeable bonds
  • Debt capital transactions, including regulatory capital instruments such as CoCos, bonds with conditional debt write-down, TLAC instruments and other hybrid debt instruments
  • Development and documentation of complex structured products and standardized derivatives
  • Asset-based transactions and securitizations, including covered bonds and synthetic risk transfer transactions
  • Blockchain-based and crypto-asset related financial products
  • Equity Capital Markets (ECM)

    Homburger has advised on some of the largest and most complex equity offerings in Switzerland and abroad. Drawing from its unparalleled experience, our ECM team covers the full range of equity and equity-related transactions, including:

    • IPOs
    • Rights offerings and other forms of equity capital raises by Swiss and foreign issuers in Switzerland
    • Block trades, accelerated bookbuild (ABB) offerings, PIPEs and other private placements of listed equity
    • Equity-linked instruments, including (mandatory and contingent) convertible and exchangeable notes
    • Innovative transactions, such as equity facilities and equity derivative transactions
  • Stock Exchange and Securities Law

    We are recognized representatives at SIX Swiss Exchange in the full spectrum of capital markets instruments. In an environment marked by ever-increasing regulatory scrutiny and complexity, overlaid by an accelerating pace of regulatory initiatives, our corporate clients benefit from our vast experience in advising on all aspects of stock exchange and securities law, including:

    • Disclosure of shareholdings and management transactions
    • Ad-hoc publicity and ongoing reporting obligations
    • Corporate governance, including executive compensation and benefits
    • Market abuse, including insider trading and market manipulation
    • Admission of new issuers and products for listing on the SIX Swiss Exchange and other regulated trading venues
  • Debt Capital Markets (DCM)

    We lead the way when it comes to designing and executing both customized and standardized debt transactions, including regulatory capital instruments. We developed the structure and documentation for the issuance of the first contingent convertible bonds (CoCos), write-down bonds, and bonds eligible for total loss-absorbency capital (TLAC) by each of the two Swiss global banks of systemic importance. Our DCM team advises on the full spectrum of debt and debt-related transactions, including:

    • Bonds, including convertible and exchangeable bonds
    • Regulatory capital instruments, such as contingent convertible bonds (CoCos), write-down bonds, total loss-absorbency capital (TLAC) instruments, and other hybrid instruments
    • Issuance programs for all forms of debt capital instruments
    • High yield bonds
    • Bridge financing
    • Mezzanine instruments
    • Liability management transactions, including tender offers and exchange offers for outstanding debt, consent solicitations, amendments and waivers
  • Structured Products and Standardized Derivatives

    We have significant experience with complex structured products and standardized derivatives. Based on our profound market knowledge and cutting-edge technical experience, we advise on the full set of legal issues that arise in connection with designing, offering and trading structured products, including in the form of (collateralized) exchange traded products, and standardized derivatives, including:

    • Developing, documenting, issuing and listing structured products
    • Setting up and maintaining issuance programs for structured products and standardized derivatives
    • Advising on distribution and trading of non-listed structured products
  • Asset-based Finance and Securitizations

    We have an outstanding reputation for developing and implementing innovative transaction models for asset-backed transactions and securitizations. This is evidenced by numerous successful transactions, often pioneering novel solutions in unchartered territory. For example, we developed Switzerland’s first covered bonds and advised on a variety of Swiss and international asset-backed security transactions. Our competencies span the entire range of products and transactions in this area, including:

    • Covered bonds
    • Synthetic risk transfer (including CDS and CLOs)
    • Securitization transactions
  • Bulletin
  • News
  • Publications

Homburger advised Avolta on the issuance of EUR 500 m Bonds

Deals & Cases

Homburger advised DWS on Crypto ETPs

Deals & Cases

Homburger advised Meyer Burger on its CHF 206.75 m rights offering

Deals & Cases

Krypto- und Blockchain-basierte Finanzprodukte – Krypto ETPs

Reduced Scope of per se Ad Hoc Obligations on SIX

René BöschPatrick Schleiffer

Update on Risk-Absorbing Capital Instruments under the Revised Insurance Regulations