Category Archives: News, Deals & Cases

Cicor with a new major shareholder

3 March 2021 – Cicor, a leading international technology company in the fields of printed circuit boards and hybrid circuits, printed electronics, microelectronics as well as EMS (Electronic Manufacturing Services), based in Boudry (Switzerland), has been informed that HEB Swiss Investment AG, Zurich, has sold all of its shares in Cicor Technologies Ltd. in a binding transaction to an investment vehicle of One Equity Partners (OEP). One Equity Partners (OEP) is a middle market private equity firm with over $8 billion in assets under management focused on transformative combinations within the industrial, healthcare and technology sectors in North America and Europe.

Credit Suisse Group AG issues USD 2 billion of bail-inable notes

On 26 January 2021, Credit Suisse Group AG launched, and on February 2, 2021, suc-cessfully completed, the issuance of USD 2 billion 1.305% Fixed Rate/Floating Rate Senior Callable Notes due 2027 (the Notes) under its U.S. Senior Debt Program. The Notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern re-quirement.

The Carlyle Group to acquire the Acrotec Group

On 7 December 2020, the global investment firm The Carlyle Group announced that it has agreed to acquire the Acrotec Group, in partnership with its management team, from Castik Capital. The transaction is subject to regulatory approvals and is expected to close in Q1 2021. The Acrotec Group is a leading independent supplier of high precision industrial applications to the watchmaking and MedTech industries as well as other high value industrial end markets, such as Automotive, Electronics and Aerospace. The Acrotec Group employs approximately 1,200 people across 18 locations and exports to over 40 countries. Leveraging Carlyle’s global Healthcare expertise and network, the partnership will seek to broaden Acrotec’s MedTech business with expansion into new services and geographies in Europe and in the United States.

FE fundinfo acquired CSSP

On 7 January 2021, FE fundinfo, a leading fund data and technology provider, announced that it expanded its environmental, social and governance (ESG) capabilities with the acquisition of the Liechtenstein based Center for Social and Sustainable Products AG (CSSP). FE fundinfo acquired all of CSSP’s share capital, including its platform which provides ESG screening and labels on thousands of funds.

Credit Suisse Group AG Issuance of EUR 3 billion bail-inable notes

On 11 January 2021, Credit Suisse Group AG launched, and on 18 January 2021, successfully completed, the issuance of (i) EUR 1.5 billion aggregate principal amount of Floating Rate Senior Callable Notes due January 2026 and (ii) EUR 1.5 billion aggregate principal amount of 0.625 per cent. Fixed Rate Senior Callable Notes due 2033 under its Medium Term Note Programme. The respective notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern requirement.

Strateo sells and transfers its online trading business and client base to Saxo Bank Switzerland

In January 2021, Strateo, the Swiss branch of Arkéa Direct Bank, has signed an agreement to sell and transfer its online trading business and client base in Switzerland to Saxo Bank Switzerland. The transaction and migration of the clients and their assets are expected to be completed by the end of the first quarter of 2021.

EFG International successfully issues USD 400m inaugural AT1 bonds and repurchases outstanding Tier 2 bonds

On 25 January 2021, Swiss global private banking group EFG International successfully issued USD 400 million inaugural perpetual Additional Tier 1 bonds. The AT1 bonds, which were issued at par, carry a coupon of 5.5 per cent. for the first seven years, after which a redemption option can be exercised. The AT1 bonds are listed on SIX Swiss Exchange. After a short book-building process the order book exceeded USD 4.7 billion.

IPO of NLS Pharmaceutics with a listing on Nasdaq

On 28 January 2021 NLS Pharmaceutics Ltd. priced its USD 20m IPO of 4,819,277 units with each unit consisting of one common share and one warrant to purchase one common share which are immediately separable from the units and issued separately. The common shares and the warrants have been approved for listing on the Nasdaq Capital Market under the symbols “NLSP” and “NLSPW”, respectively, and trading began on 29 January 2021. The offering closed on 2 February 2021. Headquarted in Stans, Switzerland, NLS Pharmaceutics Ltd. is a clinical-stage pharmaceutical company focused on the discovery and development of innovative therapies for patients with rare and complex central nervous system disorders.

Recapitalisation of gategroup

On 26 November 2020 gategroup Holding AG (gategroup, together with its subsidiaries the “Group”) announced that its shareholders, RRJ Capital and Temasek, and all of the Group’s bank lenders under the senior facilities agreement dated 30 November 2018 have agreed to the key terms and conditions of a comprehensive recapitalisation of gategroup and amendments of the Group’s financial indebtedness instruments. As part of the transaction, the shareholders, through their affiliates, have entered into a CHF 200 million senior secured interim liquidity facility with gategroup and will contribute, subject to certain conditions, overall CHF 500 million of new funding. The transaction will allow gategroup to weather the current headwinds caused by the dramatic downturn in travel demand as a result of COVID‑19 and position itself for a post-COVID future as a leaner business. The transaction is conditional on the extension of the maturity of the Group’s CHF denominated bond to February 2027.

Onex Sell-Down of SIG Shares

On 1 December 2020 SIG Combibloc announced that Onex Corporation and its affiliates have sold their remaining stake of 32 million shares in SIG representing approx. 10.1% of SIG’s share capital. Following the settlement of the transaction, Onex will cease to be a shareholder of SIG.