Galderma’s Placement of Inaugural Bonds
On 26 September 2024, Galderma Holding AG placed senior guaranteed bonds in the aggregate principal amount of CHF 500 million in two tranches with maturity dates ranging from 2028 to 2032.
UBS Switzerland AG Issues EUR 1 Billion Fixed Rate Covered Bonds
On 23 September 2024, UBS Switzerland AG issued EUR 1 billion Fixed Rate Covered Bonds due 23 September 2027 under its Covered Bond Programme. The Covered Bonds are governed by Swiss law and are listed on the SIX Swiss Exchange. These bonds are indirectly backed by a portfolio of mortgages from UBS Switzerland AG’s domestic mortgage pool.
Sulzer AG Issues CHF 250 Million 1.7725% Bonds
On 18 September 2024, Sulzer AG priced the offering of its CHF 250 million bonds with an interest rate of 1.7725%. Zürcher Kantonalbank and Commerzbank Aktiengesellschaft acted as managers for this transaction. The bonds will be listed on the SIX Swiss Exchange.
HOCHDORF Holding AG’s Sale of HOCHDORF Swiss Nutrition AG
On 18 September 2024, an extraordinary shareholder meeting of HOCHDORF Holding AG, a company listed on the SIX Swiss Exchange, approved the sale of its operational subsidiary HOCHDORF Swiss Nutrition AG to AS Equity Partners.
Public Tender Offer of Valartis for ENR Russia Invest
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.
Novartis Issues USD 3.7 Billion Bonds
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.
Sandoz Issues EUR 600 Million Bonds
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.
UBS Group AG Issues USD 1.5 Billion Fixed Rate/Fixed Rate Callable Senior Notes
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.
Raiffeisen Schweiz Genossenschaft’s Issuance of EUR 500 Million Bonds
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.
Sunshine SwissCo AG’s Placement of GaldermaGroup AG Shares
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.