News, Deals & Cases

Sandoz, a global leader in generics and biosimilars, has announced that it has fully repaid USD 750 million equivalent USD and EUR term loans that were put in place in September 2023, just before its spin-off from Novartis. The repayment was funded through proceeds from successful bond transactions: – On 13 March 2025, Sandoz issued a…

nxtAssets GmbH has listed on SIX Swiss Exchange its first physically backed Exchange Traded Products (ETPs): nxtAssets Bitcoin direct (ISIN: DE000NXTA018) and nxtAssets Ethereum direct (ISIN: DE000NXTA026). The products are also traded on Deutsche Börse via Xetra. The ETPs are fully backed by physical holdings of Bitcoin and Ethereum, with custody provided by Crypto Finance…

On 9 April 2025, 21Shares AG, a leading global issuer of crypto ETPs, successfully issued and listed on the SIX Swiss Exchange its new 21Shares Dogecoin ETP (DOGE). This ETP is linked to and fully physically collateralized by Dogecoin and is traded in USD and EUR.  For this ETP, 21Shares AG has formed an exclusive…

On 2 April 2025, New Zealand Local Government Funding Agency Limited successfully completed its inaugural CHF-denominated bond issuance under its Euro Medium Term Note (EMTN) Programme. The CHF 220 million 0.77% fixed rate notes are due in 2032 and are guaranteed by certain New Zealand local authorities. The notes are governed by English law and have…

On 1 April 2025, Swiss Re launched, under its USD 10 billion Debt Issuance Programme, an offering of: (i) EUR 750 million Guaranteed Subordinated Fixed Rate Reset Notes with a Scheduled Maturity in 2033; (ii) USD 750 million Guaranteed Subordinated Fixed-to-Floating Rate Notes with a Scheduled Maturity in 2046; and (iii) SGD 450 million Guaranteed Subordinated…

In March 2025, Sika AG placed bonds totaling CHF 500 million across three tranches. The payment date of the new bonds was 24 March 2025, and the new bonds were listed on SIX Swiss Exchange. The net proceeds of the bond issuance are used for general corporate purposes, including the refinancing of existing financial indebtedness. …

On 26 February 2025, Thermo Fisher Scientific Inc. successfully placed CHF bonds in the amount of CHF 1.425 billion. The issuance consisted of five tranches. The bonds are governed by Swiss law and application will be made for admission to trading and listing of the bonds on the SIX Swiss Exchange. UBS AG acting through…

On 19 February 2025, Julius Baer Group Ltd. successfully issued USD 400 million of 7.5% Perpetual Tier 1 Subordinated Contingent Convertible Bonds (Tier 1 CoCos). The Tier 1 CoCos and all transaction documents are governed by Swiss law. If a trigger event occurs and is continuing on the relevant subsequent trigger test date or if…

On 5 February 2025, Luzerner Kantonalbank successfully priced its issuance of CHF 150 million 3.00% Additional Tier 1 Bonds by Luzerner Kantonalbank. The issuance was the first post-Credit Suisse offering of write-down bonds. The issuance closed on 28 February 2025. Zürcher Kantonalbank acted as Structuring Advisor and Joint-Lead Manager and Luzerner Kantonalbank and UBS AG…