
Welcome to CapLaw
CapLaw is a digital newsletter with international reach established and led by the General Editors. We provide up-to-date information on legal and regulatory developments regarding the capital markets, publish concise articles on developments in the Swiss and international financial markets, and announce recent deals and forthcoming events. CapLaw is addressed to all Swiss and international lawyers, in-house counsel, financial institutions and corporates, as well as those who are interested in the Swiss capital markets.
The General Editors
René Bösch, Homburger AG
Matthias Courvoisier, Baker McKenzie Switzerland AG
Benjamin Leisinger, Homburger AG
Ralph Malacrida, Bär & Karrer AG
Nina Reiser, University of St.Gallen
Thomas Reutter, Advestra AG
Patrick Schleiffer, Lenz & Staehelin
Philippe A. Weber, Niederer Kraft & Frey AG
Thomas Werlen, Quinn Emanuel Urquhart & Sullivan, LLP
CapLaw Themes
- FinSA (FIDLEG) (32)
- FinIA (FINIG) (11)
- Insurance (8)
- Securities (95)
- Regulatory (128)
- Takeover (19)
- Derivatives (7)
- News, Deals & Cases (467)
- Events (150)
- Other Areas (8)
CapLaw PDF Archive
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Issuance by Thermo Fisher of CHF 1.070 billion inaugural bond
On 7 March 2024, Thermo Fisher Scientific Inc. successfully completed its issuance of its inaugural CHF bonds in excess of CHF 1 billion, being the largest foreign Swiss franc bond issuance in seven years. The issuance consisted of three tranches, the CHF 330 million 1.6525 per cent. bonds due 2028, CHF 415 million 1.8401 per…
Reference: CapLaw-2024-23 -
Placement by Swiss Prime Site of green bonds in the aggregate principal amount of CHF 250 million
Swiss Prime Site successfully placed green bonds in the aggregate principal amount of CHF 250 million 1.80% due 2030. The bonds were issued by Swiss Prime Site Finance AG and guaranteed by Swiss Prime Site AG. Zürcher Kantonalbank, Basellandschaftliche Kantonalbank and Luzerner Kantonalbank AG acted as Joint Lead Managers in this transaction.
Reference: CapLaw-2024-24 -
Issuance by Roche Holdings, Inc. of USD 3.875 billion in aggregate principal amount senior notes, guaranteed by Roche Holding Ltd
On 8 March 2024, Roche Holdings, Inc. successfully completed its issuance of USD 3.875 billion in aggregate principal amount of senior notes, consisting of USD 875 million 4.790% Notes due 2029, USD 750 million 4.909% Notes due 2031, USD 1.25 billion 4.985% Notes due 2034, and USD 1 billion 5.218% Notes due 2054. The notes are irrevocably and unconditionally guaranteed by Roche Holding Ltd.
Reference: CapLaw-2024-25 -
Issuance by Nestlé of an aggregate of USD 2.5 billion notes through an institutional (Rule 144A) offering inthe United States of America
On 12 March 2024, Nestlé Capital Corporation successfully completed its issuance of USD 600 million 4.650% Notes due 2029, USD 450 million 4.750% Notes due 2031, USD 800 million 4.875% Notes due 2034, and USD 650 million 5.100% Notes due 2054. The Notes are guaranteed by the Nestlé group’s Swiss parent company Nestlé S.A. The offering of the Notes was…
Reference: CapLaw-2024-26 -
IPO of Galderma on SIX Swiss Exchange
On 22 March 2024, the shares of Galderma Group AG, a pure-play dermatology category leader, were listed and started trading on SIX Swiss Exchange at a price of CHF 53 per share. Based on the offer price, Galderma’s implied market capitalization was CHF 12.6 billion. During the IPO, the syndicate banks successfully placed 37,233,708 newly…
Reference: CapLaw-2024-27 -
Scrip dividend by SGS SA
At its AGM held on 26 March 2024, SGS SA proposed to shareholders, and an overwhelming majority approved, the right to receive a dividend in the form of either cash or shares of the company (scrip dividend) at the option of eligible shareholders. The shares to be delivered will be valued at a discount of…
Reference: CapLaw-2024-28 -
Capital increase by Meyer Burger with gross proceeds of CHF 206.75 million
On 2 April 2024, Meyer Burger Technology AG announced that as part of its rights offering, subscription rights for 19,648,121,444 new shares were exercised. On 3 April 2024, Meyer Burger announced that all 496,302,442 new shares for which subscription rights were not exercised during the subscription period were successfully placed with various institutional investors. As…
Reference: CapLaw-2024-29 -
Placement by Clariant of dual tranche CHF 200 million and CHF 150 million senior bonds maturing 2027 and 2031
Clariant AG successfully placed a CHF 200 million bond with a term to maturity of three years, and a CHF 150 million bond with a term to maturity of seven years. The net proceeds will be used for general corporate purposes.
Reference: CapLaw-2024-30 -
Placement by Medartis of CHF 115.8 million convertible bonds maturing 2031
On 4 April 2024, Medartis Holding AG announced the successful placement of senior unsecured guaranteed convertible bonds due 2031 for an amount of CHF 115.8 million, convertible into newly issued and/or existing registered shares of Medartis Holding AG. The bonds are issued via Medartis International Finance SAS, a directly wholly owned subsidiary of Medartis Holding…
Reference: CapLaw-2024-31 -
EUR 300 million capital increase by SwissSteel Holding AG
On 18 April 2024, Swiss Steel Holding AG announced the placement of a total of 3,101,000,000 new registered shares in connection with its capital increase. The shares were sold at an offer price of CHF 0.0925 per share, resulting in gross proceeds of EUR 300 million and net proceeds of approximately EUR 294 million. The…
Reference: CapLaw-2024-32