The mortgage reference rate was introduced in 2008 with the aim of harmonizing the rent structure on the nationwide Swiss level. It is determined quarterly by the Federal Office of Housing (FOH) and is decisive for rent adjustments in existing tenancies. Since its introduction, the mortgage reference rate has fallen steadily and reached a historic low of 1.25% on March 3, 2020, at which it had since remained set.
Today, the FOH increased the mortgage reference rate for the first time in over 14 years, setting it at 1.5%. The new mortgage reference rate will apply from June 2, 2023.
If the required contractual conditions under the relevant lease agreements are in place, this adjustment of the mortgage reference rate entitles the landlord to unilaterally increase the rent by up to 3% (subject to further increases based on other factors such as inflation) as of the next possible termination date.
Landlords who wish to exercise this right may assert these increases in compliance with the contractual and statutory form and deadline requirements. In any case, increases must be notified using an official form, must include a justification and must be delivered at least 10 days before the start of the notice period. When sending the rent increase notification by registered letter, it should be noted that in case of failed delivery on first attempt, delivery is deemed to have taken place only after the expiry of the postal seven-day collection period.
The tenant has the right to terminate the lease agreement within the cooling-off period or to contest the rent increase within a 30-day period starting from notification of the rent increase.

Increase of the mortgage reference rate

Financing and Investment Products

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Homburger acted as Swiss counsel to AtlasEdge, a leading pan-European Edge data centre provider, on a scalable EUR 725 m loan financing. The financing was underwritten by mandated lead arranger ING Bank, as well as ABN Amro, Crédit Agricole CIB, The Bank of Nova Scotia, National Westminster Bank Plc, Banco Santander and UniCredit Bank AG.
AtlasEdge is a leading European Edge data centre platform with operations across 12 countries, formed through a joint investment by Liberty Global, a world leader in converged broadband, video and mobile communications and an active investor in cutting-edge infrastructure, content, and technology ventures, and DigitalBridge, a leading global investment firm dedicated to digital infrastructure.
The innovative financing package, which is a distinctive blend of standard digital infrastructure and LBO cash flow-based financing terms, consists of EUR 525 m in committed debt facilities and a further EUR 200 m of uncommitted accordion. The accordion feature enables AtlasEdge to quickly target capital toward customer-led projects and expand the financing based on future demand.
Having already underpinned the company’s recent acquisition of Datacenter One, Germany’s leading independent data centre provider, the new financing provides AtlasEdge with considerable firepower to execute further strategic M&amp;A and build new efficient and sustainable sites throughout Europe’s key markets.
The financing also includes sustainability-linked targets focussed on efficiency and renewable energy usage. This aligns AtlasEdge’s mission to build a truly sustainable digital society.
Homburger advised AtlasEdge with regards to all Swiss legal aspects of the financing transaction.
The Homburger team was led by partner Daniel Haeberli and included associates Daniel Junginger, Simone Gloor, Fabrice Eckert and Joey Weber (all Financing) as well as partner Stefan Oesterhelt (Tax).

Homburger advised AtlasEdge on milestone sustainability-linked EUR 725 m loan facilities

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Homburger for Implenia

20230403_Implenia

On March 30, 2023, Implenia AG (SIX: IMPN), Switzerland&#8217;s leading real estate and construction service provider, announced that it had agreed to purchase Wincasa AG for CHF 171.6 m from Swiss Prime Site AG (SIX: SPSN). Wincasa is the leading Swiss real estate service provider with more than 250,000 managed properties, CHF 81 bn in assets under management and 1,350 employees (FTE). The closing of the transaction is planned for the second quarter of 2023, subject to regulatory approvals.
Homburger acts as counsel to Implenia. The Homburger team is led by Marcel Dietrich (Competition, Real Estate) and Daniel Häusermann (Corporate / M&amp;A, Real Estate) and comprises Peter Müller (Tax), Oriana Schöni (Corporate / M&amp;A), Gabriel Kasper, Kristina Martinovic and Hélène Bruderer (IP / IT), Allegra Arnold and Jonas Krull (Competition), Stefan Kramer, Manuel Baschung and Daniel Junginger (Financing and Investment Products / Regulatory), Gregor Bühler and Sebastian Wyler (Employment and Executive Compensation), as well as Anna Delia Lohmann and Giulia Meier.

Homburger advised Implenia on the acquisition of Wincasa

Capital Markets

Financial Market Regulation

Credit Suisse

On December 7, 2022, Credit Suisse (Switzerland) Ltd. issued an aggregate of EUR 750 m of covered bonds. The new series, EUR 750 m Fixed-Rate Covered Bonds due 2026, has been Credit Suisse (Switzerland) Ltd.&#8217;s inaugural EUR covered bonds issuance. The covered bonds were issued under its Swiss Covered Bonds Programme and will be listed on the SIX Swiss Exchange.
Homburger advised Credit Suisse (Switzerland) Ltd. with respect to all aspects of Swiss law. The Homburger team was led by Benjamin Leisinger (Capital Markets) and included Dieter Grünblatt (Tax), Stefan Kramer (Financial Market Regulation) and Daniel Junginger (Capital Markets).

Homburger advised Credit Suisse on its inaugural EUR 750 m Swiss Covered Bonds Issuance

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Junginger

Homburger advised AtlasEdge on milestone sustainability-linked EUR 725 m loan facilities

Homburger advised Implenia on the acquisition of Wincasa

Homburger advised Credit Suisse on its inaugural EUR 750 m Swiss Covered Bonds Issuance

Increase of the mortgage reference rate

Prozessfinanzierung zur Kapitalanlage - Die Bewertung und Bilanzierung von Prozessrisiken

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Daniel Junginger

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Homburger advised AtlasEdge on milestone sustainability-linked EUR 725 m loan facilities

Homburger advised Implenia on the acquisition of Wincasa

Homburger advised Credit Suisse on its inaugural EUR 750 m Swiss Covered Bonds Issuance

Increase of the mortgage reference rate

Prozessfinanzierung zur Kapitalanlage - Die Bewertung und Bilanzierung von Prozessrisiken

Join the Team

Daniel Junginger

Career

Languages

Bar Registration

Teams

Daniel
Junginger