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Bär & Karrer Ltd.

BRANDSCHENKESTRASSE 90, 8027 ZÜRICH, SWITZERLAND
Tel:
Work +41 58 261 50 00
Fax:
Fax +41 58 261 50 01
Email:
Web:
www.baerkarrer.ch
Geneva, Lugano, Zug, Zurich

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Bär & Karrer Advised Swiss Re in the Offering of USD 500 Million Senior Exchangeable Notes with Iss

June 2018

Swiss Re Ltd (Swiss Re) has completed an offering of USD 500 million, 6-year senior exchangeable notes, which may be stock settled at the option of Swiss Re or may be exchanged at the option of noteholders for registered shares of Swiss Re, unless Swiss Re elects to settle the exchange of notes in cash. Swiss Re has purchased call options on its own shares, which allow it to settle an exchange by noteholders without issuing new shares.

As is customary for international offerings of debt securities by Swiss (re-)insurers, Swiss Re issued notes to, and which are held by, a repackaging vehicle, in this case ELM B.V. (or a nominee acting on its behalf). ELM B.V. issued its own 6-year exchangeable notes secured by the notes issued by Swiss Re.

Barclays Bank PLC, Deutsche Bank AG, London Branch, J.P. Morgan Securities plc, Merrill Lynch International and UBS Limited acted as joint lead managers.

Bär & Karrer advised Swiss Re in this transaction. The team included Thomas U. Reutter, Roland Truffer and Daniel Raun (all Capital Markets).

Legal Developments by:
Bär & Karrer Ltd.

  • Bär & Karrer Advised Colombo Wealth on the Reorganisation of its Structure and Obtaining FINMA's ap

    Colombo Wealth SA (previously Colombo Wealth Management SA, Heron Holding SA and Heron Asset Management SA), a financial service provider in the canton Ticino for institutional and private HNWI clients, is the first FINMA licensed asset manager of collective investment schemes with presence in all three main language areas in Switzerland, with headquarter in Lugano and branches in Zurich and Geneva. After obtaining the relevant authorisations from FINMA, Colombo Wealth (previously Heron Asset Management) successfully completed the mergers with Colombo Wealth Management and Heron Holding.
    - BÄR & KARRER LTD.

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