Swiss Life Successfully Closes Placement of CHF 500 Million Zero Percent Senior Convertible Bonds

 

02.12.2013

 

Swiss Life Holding AG successfully completed the placement of CHF 500 million zero percent senior unsecured convertible bonds due 2020. The bonds were issued at 100% of their principal amount and, unless previously redeemed, converted or repurchased and cancelled, will mature on 2 December 2020 at 100% of their principal amount. The bonds were allocated to investors in a bookbuilding, subject to claw-back by existing shareholders who were granted the right to exercise their advance subscription rights. It was the first time a claw-back structure was used in Switzerland.

Bär & Karrer acted as legal counsel to the Deutsche Bank and UBS on the issuance and placement of the bonds. The team included Thomas U. Reutter, Till Spillmann, Michael Barrot, Annette Weber, Andrea Giger, Fabian Loretan and Ivo von Büren.

 

 

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