On 3 September 2024, Raiffeisen Schweiz Genossenschaft issued EUR 500 million 3.852 % 8NC7 Fixed-to-Fixed Rate Bail-in Bonds due 2032. Deutsche Bank, J.P. Morgan, Morgan Stanley, Raiffeisen Schweiz Genossenschaft and UBS Investment Bank acted as Joint Lead Managers and DZ Bank and Société Générale as Co-Lead Managers. 

On 3 September 2024, Sunshine SwissCo AG, a consortium led by EQT, the Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd., announced the completion of an accelerated bookbuilding process targeting professional investors in Switzerland and qualified investors internationally. This process resulted in the placement of 14,273,859 shares in Galderma Group AG at a price of CHF 75 per share, generating approximately CHF 1.07 billion in proceeds.

Following the placement, the Sellers will retain a 61.21% stake in Galderma’s share capital, with EQT’s representation on the Board of Directors remaining unchanged. 

On 20 August 2024, R&S Group Holding AG acquired Kyte Powertech Limited, an Ireland-based manufacturer of distribution transformers, based on an enterprise value of EUR 250 million. The funding for the acquisition was secured by a bridge loan amounting to CHF 233 million and a rollover of a significant portion of shares held by the existing Kyte Powertech management into the SIX-listed RSGN shares. Furthermore, equity commitments of CHF 23 million were secured and called. Following the transaction, R&S Group Holding AG, formerly the special purpose acquisition company (SPAC) known as VT5 Acquisition Company AG, reported that 79% of its warrants (RSGW) placed in its IPO were exercised on 1 October 2024. 

On 5 August 2024, L’Oréal and Galderma announced the acquisition of a 10% stake in Galderma Group AG from Sunshine SwissCo AG, a consortium led by EQT, Abu Dhabi Investment Authority (ADIA), and Auba Investment Pte. Ltd., for an undisclosed amount. As part of this transaction, L’Oréal has agreed to certain undertakings with Sunshine SwissCo AG under a shareholders’ agreement. The acquisition will not result in any changes to the Galderma board of directors or its governance structure.

On 10 July 2024, AMAG Leasing completed its issuance of CHF 100 million 1.700 % Fixed Rate Auto Covered Bonds due 2028 under its CHF 1.5 billion Auto Covered Bond Programme irrevocably guaranteed by AMAG Leasing Auto Covered Bond AG (the Programme). The Auto Covered Bonds are indirectly backed by a portfolio of lease assets originated by AMAG Leasing. 

On 28 June 2024, Meyer Burger Technology AG completed a reverse split of its shares at a ratio of 750:1. This corporate action was approved by the company’s annual general meeting of shareholders on 25 June 2024. The new shares commenced trading on the SIX Swiss Exchange on the same day, marking the first day of trading post-reverse split.

On 24 June 2024, UBS Group AG completed its offering of SGD 500 million 5.600 per cent. Tier 1 Capital Notes, which are redeemable at the option of UBS Group AG for the first time on 21 December 2029. The Notes are “high trigger” regulatory capital instruments that are eligible to fulfil UBS Group AG’s Swiss going concern requirements. Upon occurrence of a “Trigger Event” or a “Viability Event”, the Notes will be converted into ordinary shares of UBS Group AG in accordance with their terms.

On 17 June 2024, Viseca placed CHF 165 million 1.65% senior bonds due 2028. The bonds were issued by Viseca Payment Services AG. Zürcher Kantonalbank, Raiffeisen Schweiz Genossenschaft and UBS acted as Joint Lead Managers.

On 19 June 2024, Novartis AG placed CHF bonds in the aggregate principal amount of CHF 2.2 billion in five tranches, with maturity dates ranging from 2027 to 2049. UBS, BNP Paribas (Suisse) SA and Deutsche Bank Aktiengesellschaft acted as Joint Lead Managers and Zürcher Kantonalbank acted as Co-Manager in this transaction.

On 17 May 2024 and 14 June 2024, respectively, Barry Callebaut issued CHF and EUR Bonds. Specifically, Barry Callebaut placed CHF 730 million bonds in the Swiss market on 17 May 2024 and issued EUR bonds in the amount of EUR 700 million on 14 June 2024. The issuances were made to achieve greater financial flexibility against the back­drop of the volatile cocoa bean price market environment.