11 July 2019 I Deals and Cases

Bär & Karrer Advised Cembra Money Bank on the Financing of the Acquisition of cashgate

Cembra Money Bank has agreed to acquire cashgate. The purchase price for the acquisition of cashgate and the refinancing of cashgate's loan portfolio is partly backed by a bridge facility and is financed and refinanced by the sale of treasury shares (gross proceeds of CHF 112.8 million) in an accelerated bookbuilding, the placement of CHF 150 million perpetual additional Tier 1 bonds and CHF 250 million net share settled convertible bonds.

Bär & Karrer acted as legal advisor to Cembra for the financing of the acquisition. The team included Thomas U. Reutter, Roland Truffer, Rashid Bahar, Annette Weber, Alexander von Jeinsen and Rebecca Schori (all Capital Markets) as well as Susanne Schreiber, Markus Mühlemann and Angelica Schwarz (all Tax).