Author Archives: CapLaw

3rd Conference on Control Systems (3. Tagung zu Kontrollsystemen)

Thursday, 14 March 2024, Paulus Akademie, Zurich

21st Zurich Stock Corporation Law Conference(21. Zürcher Aktienrechtstagung)

Thursday, 21 March 2024, Metropol, Zurich

21st Zurich Conference on Developments in Financial Market Law (21. Zürcher Tagung zu Entwicklungen im Finanzmarktrecht)

Tuesday, 21 May 2024, Lake Side, Zurich

St. Gall Conference on Corporate Law (St. Galler Gesellschaftsrechtstagung 2024)

Tuesday, 4 June 2024, SIX Convention Point, Zurich

UBS Group Ltd’s debut issuance of AT1 Notes 

On 13 November 2023, UBS Group Ltd successfully completed its offering of an aggregate of USD 3.5 billion of AT1 Notes. The offering comprised two tranches: USD 1.75 billion of 9.250 per cent. AT1 Notes, which are redeemable at the option of UBS Group Ltd after five years, and USD 1.75 billion of 9.250 per cent. AT1 Notes, which are redeemable at the option of UBS Group Ltd after ten years.

Roche Holdings, Inc.’s Issuance of Senior Notes

On 13 November 2023, Roche Holdings, Inc. successfully completed its issuance of USD 5.5 billion in aggregate principal amount of senior notes, consisting of USD 1.1 billion 5.265% Notes due 2026, USD 1.25 billion 5.338% Notes due 2028, USD 1.25 billion 5.489% Notes due 2030, USD 1.6 billion 5.593% Notes due 2033, and USD 300 million Floating Rate Notes due 2026. The notes are irrevocably and unconditionally guaranteed by Roche Holding Ltd.

Vencora UK Ltd announced public tender offer for Crealogix Holding Ltd

On 16 November 2023, Vencora UK Limited, an indirect subsidiary of Volaris Group Inc. and Constellation Software Inc. (CSI), a Canadian-based international provider of software and services (TSX: CSU), and Crealogix Holding Ltd, a Swiss-based global leader in digital banking technology (SIX: CLXN), jointly announced that they have entered into a definitive transaction agreement, under which Vencora agreed to submit an all-cash public tender offer to acquire all publicly held registered shares of Crealogix for CHF 60 per share, for an aggregate equity value for Crealogix of approximately CHF 84 m. Certain shareholders of Crealogix have concurrently entered into a share purchase agreement with Vencora for the sale of a total of 51.66% of all shares in Crealogix to Vencora.

TEMENOS’s Issuance of CHF 200 m Bonds

On 11 October 2023, TEMENOS issued CHF 200 million bonds. Zürcher Kantonalbank, BNP Paribas (Suisse) SA and BZ Bank Aktiengesellschaft acted as managers. The bonds will be listed on the SIX Swiss Exchange.

City of Geneva’s Issuance of First Green Bonds

In November 2023, the City of Geneva announced that it had issued green bonds for an aggregate principal amount of CHF 140 million. The issuance is a first for the City of Geneva.

Starrag and Tornos’s Merger

The two traditional Swiss precision machine tool manufacturers Starrag and Tornos, both listed at the SIX Swiss Exchange, announced on 26 October 2023 that they entered into a merger agreement. Under the terms of the merger, Tornos will be absorbed by Starrag and the Tornos shares will be exchanged into new listed Starrag shares for which Starrag will increase its share capital. The combined group will have a worldwide geographical presence and will operate under the name StarragTornos Group.