On 6 May 2014, HIAG Immobilien launched its IPO on SIX Swiss Exchange, and the fi nal offer price was fi xed on 15 May 2014 at CHF 76 per share. Following the completion of the IPO, HIAG Immobilien had a market capitalization of CHF 608 million, making it the largest IPO on SIX Swiss Exchange of a Swiss real estate company of the past 10 years. The shares of HIAG started to trade on SIX Swiss Exchange on 16 May 2014.

HIAG Immobilien Holding AG is a leading player in the reuse and redevelopment of commercial sites and properties in Switzerland. As of 31 December 2013, HIAG Immobilien Holding AG’s property portfolio was located across 38 sites consisting of 105 properties valued at CHF 1.065 billion.

On 15 May 2013, BMW Group successfully closed a cross-border securitization of a portfolio of lease assets originated in Switzerland. The CHF 220.5 million Class A Notes are listed on the SIX Swiss Exchange. The transaction involved the sale by BMW (Schweiz) AG of Swiss car and motorbike lease assets to a newly established Luxembourg special purpose vehicle, which funded the initial purchase of lease assets with the proceeds of the issuance of three classes of notes in the aggregate amount of CHF 300 million. The securitization structure provides for the first Swiss cross-border vehicle lease assets securitization listed on the SIX Swiss Exchange and the first issuance of asset-backed securities by a Luxembourg securitization vehicle listed on the SIX Swiss Exchange.

On 9 February 2012, Swiss Reinsurance Company Ltd (Issuer) successfully completed the issuance and placement of CHF 320,000,000 perpetual subordinated notes with stock settlement (Notes). Under the terms and conditions (Conditions) of the Notes, the Issuer may initiate a stock settlement procedure which combines a write-down of the principal amount of the Notes with the conversion into registered shares of Swiss Re Ltd (Shares), the SIX Swiss Exchange listed holding company of the Swiss Re group. The Conditions provide for an at-market stock settlement, which may be initiated at any time, as well as a stock settlement following the occurrence of a solvency event (which includes the failure to comply with the applicable minimum solvency margin), in which case the conversion of the Notes into Shares is based on a floor price. The Notes qualify as upper additional capital pursuant to the Insurance Supervision Ordinance.

Reference: CapLaw-2012-8