News, Deals & Cases

The two traditional Swiss precision machine tool manufacturers Starrag and Tornos, both listed at the SIX Swiss Exchange, announced on 26 October 2023 that they entered into a merger agreement. Under the terms of the merger, Tornos will be absorbed by Starrag and the Tornos shares will be exchanged into new listed Starrag shares for…

On 7 November 2023 Highlight Event and Entertainment Ltd, which is listed on the SIX Swiss Exchange, completed a rights offering with net proceeds of CHF 41.2 million. The new shares were subscribed by or placed with existing shareholders, several backstop investors who had previously committed to the subscription by means of commitment letters as…

Lonza successfully placed two tranches of CHF 185 million 2.25% due 2028 and CHF 2.60% due 2031. UBS Investment Bank, BNP Paribas (Suisse) SA and Commerzbank Aktiengesellschaft acted as Managers in this transaction.

On 10 November 2023 Will Semiconductor Co. Ltd Shanghai offered and listed its global depositary receipts (GDRs) on SIX Swiss Exchange and raised approximately USD 445 million gross proceeds. The GDRs were issued based on newly issued A shares of Will Semiconductor Co. Ltd Shanghai, which are listed on the Shanghai Stock Exchange, and were…

The shareholders of R&S Group, a leading provider of electrical infrastructure components in Switzerland and international markets, entered into a Business Combination Agreement with VT5 Acquisition Company Ltd, the SIX-listed SPAC. The parties have agreed to combine their businesses at a purchase price of CHF 274 million and thereby take R&S Group public in Switzerland. The…

On 21 November 2023, following its spin-off from Novartis on 4 October 2023, Sandoz, a global leader in the generics and biosimilars markets successfully placed EUR 2.0 billion senior guaranteed Eurobonds and CHF 750 million senior bonds. The Eurobonds are issued in three tranches with EUR 700 million 3.97% bonds due 2027, EUR 700 million 4.22%…

On 6 October 2023 UBS Switzerland Ltd has established a CHF 20 billion program for the issuance of Covered Bonds issued by UBS Switzerland Ltd and guaranteed by UBS Hypotheken Schweiz Ltd. The Covered Bonds issued under the program will be indirectly backed by a portfolio of mortgages from UBS Switzerland Ltd’s domestic mortgage pool.

On 11 December 2023, ams Osram, which is listed on the SIX Swiss Exchange, completed a rights issue with proceeds of approximately CHF [775] million. ams OSRAM intends to use the proceeds to redeem its outstanding senior notes. The rights issue consisted of a rights offering to existing shareholders, subject to certain limitations based on…

PureGym successfully completed the offering of EUR 380 million 8.250% senior secured notes due 2028, GPB 475 million 10.000% senior secured notes due 2028 and a GPB 175.5 million super senior revolving credit facility for PureGym. The net proceeds of the notes will be used to refinance PureGym’s existing financial indebtedness. PureGym is a leading…