03 April 2020 I Deals and Cases

Bär & Karrer Advised Merrill Lynch International and UBS on the Placement of CHF 175 Million 2.75% 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 2.75% 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.

Merrill Lynch International and UBS AG acted as Joint Global Coordinators and Joint Bookrunners in this transaction.

Bär & Karrer acted as transaction counsel to the Joint Global Coordinators and the Joint Bookrunners in this transaction. The team included Thomas U. Reutter, Roland Truffer, Annette Weber, Alexander von Jeinsen and Rebecca Schori (all Capital Markets) as well as Christoph Suter and David Weimann (both Tax).