Category Archives: News, Deals & Cases

Placement of CHF 175 Million 0.275% Convertible Bonds

Zur Rose Group is the largest e-commerce pharmacy in Europe. On 31 March 2020, Zur Rose Finance B.V. successfully placed CHF 175 million 0.275% bonds due 2025 guaranteed by and convertible into shares of Zur Rose Group AG. The bonds were issued at 100% of their principal amount and will mature on 31 March 2025. The proceeds will be used, among others, to rapidly adjust to the significantly increased levels of demand for vital medication offered by online pharmacies since the beginning of the COVID-19 crisis.

Increase of the Capital of La Foncière

La Foncière, a real estate fund governed by articles 58 et seq. of the Swiss Collective Investment Schemes Act, completed from 16 to 25 March 2020 an increase by 10% of the number of its units (parts) listed on the SIX Swiss Exchange. The 1’237’107 additional units were fully subscribed to, in spite of most challenging market conditions. These additional units have been listed on 31 March 2020.

Acquisition of The Medicines Company

In connection with the acquisition of NASDAQ-listed biopharmaceutical company The Medicines Company for USD 9.7 billion, Novartis AG and Novartis Finance Corporation entered into a USD 7 billion short-term (bridge) credit agreement and completed a USD 5 billion four-tranche SEC-registered bond offering.

Placement of SGS Shares

The von Finck family successfully placed 960,000 shares (approx. 12.7%) in SGS SA by way of an accelerated bookbuilding process. The overall transaction volume amounts to CHF 2.3 billion. In light of its long-term investment strategy and planning, the family decided to divest a majority of its stake in SGS.

Addex Therapeutics Ltd lists American Depositary Shares (ADSs) on NASDAQ

On January 29, 2020, Addex Therapeutics Ltd (Addex) (SIX: ADXN), a clinical-stage pharmaceutical company pioneering allosteric modulation-based drug discovery and development, announced the listing of American Depositary Shares (ADSs) representing its ordinary shares on the Nasdaq Stock Market. The ADSs will be listed for trading on Nasdaq under the symbol “ADXN” on January 29, 2020.

Amun AG lists its new Series of Exchange Traded Products on the SIX Swiss Exchange linked to a short position in Bitcoin (BTC)

On January 22, 2020, Amun AG (Amun), a Zug-based special purpose issuance vehicle of the fintech group Amun, successfully issued and listed a new Series of Products (Ticker: SBTC) on the SIX Swiss Exchange. These Products, the “21Shares Short Bitcoin ETP” are linked to the inverse performance of Bitcoin (BTC) and allow a -1x exposure to Bitcoin (BTC)’s performance on a daily basis. The purpose of this Product is to allow investors to, on a short-term basis, benefit from a negative development in the value of Bitcoin (BTC), the largest cryptocurrency. 

Valyo Innovative Capital Market Platform

Valyo AG, a subsidiary of Raiffeisen Switzerland, has developed an innovative digital platform for issuances of exchange listed bonds geared towards institutional investors. The Valyo platform, intended to be launched in the first quarter of 2020, enables issuers to carry out all steps from the initial registration of a planned issuance through the book building process to closing and listing of the bond issuance in an integrated digital process.

Credit Suisse Switzerland issues CHF 660m Covered Bonds

Following an inaugural issuance of CHF 250 million Covered Bonds on 16 July 2019, Credit Suisse Switzerland successfully completed its second and third issuances under the Programme on 31 January 2020, issuing CHF 350 million Series 2020-1 0.000 per cent. fixed rate Covered Bonds due July 2025 and CHF 310 million Series 2020-2 0.000 per cent. fixed rate Covered Bonds due October 2030. The Covered Bonds are listed on the SIX Swiss Exchange and rated AAA by Fitch.

Global Blue and Far Point Acquisition Corporation announce USD 2.6bn business combination and listing on NYSE

On 16 January 2020, Global Blue, a leading strategic technology and payments partner empowering global merchants to capture the growth of international shoppers, today announced it will become a publicly traded company on the New York Stock Exchange through a merger with Far Point Acquisition Corporation, a special purpose acquisition company co-sponsored by the institutional asset manager Third Point LLC and former NYSE President Thomas W. Farley. The new public company will be incorporated in Switzerland and will trade as Global Blue under ticker symbol NYSE: “GB” upon closing.

Acquisition of The Medicines Company

In connection with the acquisition of NASDAQ-listed biopharmaceutical company The Medicines Company for USD 9.7 billion, Novartis AG and Novartis Finance Corporation entered into a USD 7 billion short-term (bridge) credit agreement and completed a USD 5 billion four-tranche SEC-registered bond offering.