On 18 September 2024, Valartis AG (Valartis), a subsidiary of Valartis Group AG whose shares are listed on SIX Swiss Exchange, and ENR Russia Invest SA announced that they have entered into a definitive agreement under which Valartis agreed to submit an all-cash public tender offer for all publicly held bearer shares of ENR Russia Invest SA for CHF 5.60 per share. The pre-announcement was published on 18 September 2024. The offer prospectus is expected to be published in October 2024. 

On 16 September 2024, Novartis AG placed bonds in an aggregate principal amount of USD 3.7 billion, divided into four tranches with maturity dates ranging from 2029 to 2054. 

On 12 September 2024, Sandoz placed EUR bonds in the amount of EUR 600 million. The bonds were issued by Sandoz Finance B.V. and guaranteed by Sandoz Group AG. The bonds carry an interest rate of 3.250% and are due in 2029.

On 10 September 2024, UBS Group AG successfully issued USD 1.5 billion in aggregate principal amount of Fixed Rate/Fixed Rate Callable Senior Notes due September 2045 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.

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.