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
CapLaw PDF Archive
  • Placement of USD 1.6 Billion Senior Notes by Chubb

    On 15 September 2021, Chubb INA Holdings Inc. has priced the offering of USD 600 million Senior Notes due 2051 with an interest rate of 2.850% and USD 1 billion Senior Notes due 2061 with an interest rate of 3.050%. The Senior Notes are unconditionally guaranteed by Chubb Limited, Zurich, Switzerland, and are registered on…

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    Read more: Placement of USD 1.6 Billion Senior Notes by Chubb
  • Note Repackaging of USD 15 Million in Common Shares of Acronis

    Renaissance Capital, an investment firm with a focus on emerging markets, sponsored the repackaging transaction and acted as a dealer for the notes. E.M.I.S. Finance B.V., a Dutch limited recourse investment vehicle, issued secured notes in the aggregate amount of approx. USD 15 million and purchased the respective number of common shares in Acronis AG…

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    CapLaw

    Read more: Note Repackaging of USD 15 Million in Common Shares of Acronis
  • Tecan issues CHF 250 million inaugural straight bond

    Tecan Group Ltd. (SIX Swiss Exchange: TECN) successfully issued CHF 250 million 0.50% bonds due 2025 to partially refinance the acquisition of Paramit Corporation. The bonds will be listed and traded on the SIX Swiss Exchange. The settlement will be on 6 October 2021. Credit Suisse and Zürcher Kantonalbank act as joint lead managers.

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    CapLaw

    Read more: Tecan issues CHF 250 million inaugural straight bond
  • Acquisition of Several Real Estate Companies from Immosynergies Holding

    Allreal Holding AG, listed on SIX Swiss Exchange, has agreed to acquire several real estate companies in the western part of Switzerland from Immosynergies Holding Sàrl. The acquisition covers a high-end portfolio of investment properties with a total value of around CHF 500 million in addition to development properties with a total value of around…

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    Read more: Acquisition of Several Real Estate Companies from Immosynergies Holding
  • Placement of Shares by Way of an Accelerated Bookbuilding

    Tecan Group Ltd. (SIX Swiss Exchange: TECN) has successfully placed 650,000 new registered shares in a private placement by way of an accelerated bookbuilding and completed a capital increase of approx. CHF 360 million to partially refinance the acquisition of Paramit Corporation. The offer price was set at CHF 550 per share. Credit Suisse Ltd….

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    Read more: Placement of Shares by Way of an Accelerated Bookbuilding
  • To flag or not to flag – A few thoughts regarding the new obligation to flag ad hoc announcements under the Listing Rules of SIX Swiss Exchange AG

    Issuers listed on SIX Swiss Exchange (SIX) are, as a matter of principle, required to inform the market of any price-sensitive facts which have arisen in their sphere of activity (ad hoc publicity). SIX announced a revision of the Listing Rules as well as the Directive on Ad Hoc Publicity and the Directive on Corporate…

    By

    Rashid Bahar

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    Thomas U. Reutter

    Reference:
    Read more: To flag or not to flag – A few thoughts regarding the new obligation to flag ad hoc announcements under the Listing Rules of SIX Swiss Exchange AG
  • SPACs – A Status Report

    SPACs have made their way to Europe and are starting to make it around the world. Switzerland is one of the very few jurisdictions where the regulator believes that a particular SPAC regulation is required. This article reports on the status of that project, the planned rules to the extent they are already known and…

    By

    Matthias Courvoisier

    Reference:
    Read more: SPACs – A Status Report
  • New DLT Regulation – latest developments and perspectives

    As the second batch of regulations concerning distributed ledger technology (DLT) just entered into force on 1 August 2021, this article highlights some of the key changes made to the Blanket Ordinance in the Area of Blockchain (Mantelverordnung im Bereich Blockchain) between the draft subject to consultation on 19 October 2020 and the final version…

    By

    Stefan Kramer

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    Sandrine Chabbey

    Reference:
    Read more: New DLT Regulation – latest developments and perspectives
  • Kantonsspital St. Gallen to issue CHF 275 million total nominal amount of bonds

    On 17 August 2021, Kantonsspital St. Gallen, a public-law institution, successfully launched and priced its issuance of CHF 275 million in aggregate principal amount of CHF 150 million 0.30% bonds 2021-2036 and CHF 125 million 0.05% bonds 2021-2031. The bonds are expected to be provisionally admitted to trading on 29 September 2021, and application will…

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    CapLaw

    Reference:
    Read more: Kantonsspital St. Gallen to issue CHF 275 million total nominal amount of bonds
  • UBS Group AG on its issuance of USD 2 billion Fixed Rate/Fixed Rate Senior Notes under its Senior Debt Programme

    On 10 August 2021, UBS Group AG successfully completed its issuance of USD2 billion in aggregate principal amount of Fixed Rate/Fixed Rate Senior Notes due August 2027 under its Senior Debt Programme. The Notes are bail-inable (TLAC) bonds that are eligible to count towards UBS Group AG’s Swiss gone concern requirement. The Notes are governed…

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    CapLaw

    Reference:
    Read more: UBS Group AG on its issuance of USD 2 billion Fixed Rate/Fixed Rate Senior Notes under its Senior Debt Programme