Category Archives: News, Deals & Cases
IPO of Allwyn Entertainment on NYSE by way of De-SPAC
On 22 January 2022, Allwyn Entertainment Ltd, a leading multinational lottery operator operating lotteries in Austria, the Czech Republic, Greece, Cyprus and Italy, announced that it intends to become a publicly-listed company on the NYSE in partnership with Cohn Robbins Holdings Corp. (NYSE: CRHC.U, a special purpose acquisition company (SPAC)), resulting in an expected total enterprise value for Allwyn Entertainment of approximately USD 9.3 billion.
Axpo Sustaiability Linked Bonds Issuance
On 25 January 2022, Axpo Holding AG announced the successful placement of the first sustainability-linked bond placed by a Swiss utility provider. Tranche A in the amount of CHF 200 million is due in 2025 and provides for an interest rate of 0.25 per cent. Tranche B in the amount of CHF 300 million is due in 2027 and provides for an interest rate of 0.625 per cent. The financing costs are linked to the achievement of targets, relating to the further expansion of the capacity of renewable energies.
UBS Group Notes Issuances
Between 11 and 13 January 2022, UBS Group AG successfully completed the issuance of USD 1.5 bn in aggregate principal amount of Fixed Rate/Fixed Rate Senior Notes due February 2033 and USD 1.5 bn in aggregate principal amount of Fixed Rate/Fixed Rate Senior Notes due February 2043 under its Senior Debt Programme as well as the issuance of USD 1.5 bn 4.875 per cent. Tier 1 Capital Notes. The Notes are governed by Swiss law and have been admitted to trading on the SIX Swiss Exchange.
BKB Bonds Issuance
On 11 January 2022, Berner Kantonalbank AG announced the successful placement of CHF 200 m 0.85 per cent. Tier 2 bonds. Zürcher Kantonalbank acted as Structuring Advisor and Lead Manager and Berner Kantonalbank AG acted as Co-Manager. The bonds were listed on the SIX Swiss Exchange.
SFS acquires Hoffmann SE
On 22 December 2021, SIX listed SFS Group has announced the entry into an agreement to join forces with and acquire 100 per cent of Hoffmann SE. The current owners of Hoffmann SE agreed to contribute 100% of the shares of Hoffmann SE to the SFS Group. Hoffmann SE is a leading international systems partner for quality tools which is active in over 50 countries with around 3,000 employees. A part of the purchase price will be paid in the form of SFS shares resulting in the current owners of Hoffmann SE to become significant shareholders of SFS.
UBP Bonds Issuance
On 15 December 2021, Union Bancaire Privée UBP SA (UBP) made its first issuance of bonds listed on the SIX Swiss Exchange, in an aggregate amount of CHF 335 million, maturity 2026.cap
Liechtensteinische Landesbank Intends to Fully Acquire its 75% Subsidiary Bank Linth LLB
Liechtensteinische Landesbank AG (LLB) intends to increase the shareholding in its subsidiary Bank Linth LLB AG (Bank Linth) to 100%. For this purpose, LLB has published on 27 January 2022 the pre-announcement for a public takeover offer to acquire the approximately 25% of Bank Linth held by the public. LLB offers the shareholders of Bank Linth the free choice between a partial ex-change offer with a cash component or a full cash settlement. The State of Liechtenstein as the majority shareholder of LLB, represented by the government, will provide LLB with a maximum of 1.25 million LLB shares (corresponding to 4.1 per-cent of the shares of LLB) for the partial exchange offer.
In view of the launch of the tender offer, LLB has entered into a transaction agreement with Bank Linth and a share purchase rights agreement with the State of Liechtenstein on 26 January 2022.
SFS acquires Hoffmann SE
The current owners of Hoffmann SE agreed to contribute 100% of the shares of Hoffmann SE to the SFS Group, which is listed on the SIX Swiss Exchange. Hoffmann SE is a leading international systems partner for quality tools which is active in over 50 countries with around 3,000 employees. A part of the purchase price will be paid in the form of SFS shares. Thus, the current owners of Hoffmann SE will become significant shareholders of SFS.
IPO of Switzerland’s First SPAC
On 6 December 2021, VT5 Acquisition Company AG (VT5), a special purpose acquisition company (SPAC), announced the launch of its initial public offering and the listing of its Class A Shares and redeemable warrants on SIX Swiss Exchange, which is scheduled for 15 December 2021. VT5 plans the acquisition of one or more operating companies or businesses in the industrial technology sector within 24 months of listing.
Novartis sells stake in Roche
On 3 November 2021, Novartis agreed to sell 53.3 million Roche bearer shares in a bilateral transaction to Roche for a consideration of CHF 19 billion. Novartis had acquired the stake between 2001 and 2003. The transaction is subject to the approval by the shareholders of Roche.