25 September 2013 I Deals and Cases

Renova Group Raises CHF 1 Billion in Debt Financing

A Swiss company within the Renova Group has raised CHF 1 billion in debt financing from a club of international banks, including Natixis, Credit Suisse, ING, J.P. Morgan Securities and Société Générale that provided financing in equal amounts, with Renova using shares-based derivative financial instruments for the deal. With these funds, the company will optimize its loan portfolio and fulfill general corporate needs. By taking out the club credit, Renova will be able to make maximum use of its earnings from the sale of its stake in TNK-BP.

Bär & Karrer advised Renova. The Bär & Karrer team included Ralph Malacrida, Daniel Lehmann, Thomas Rohde, Roland Truffer, and Benjamin Schärer.