The Legal 500

BAHNHOFSTRASSE 13, 8001 ZÜRICH, SWITZERLAND
Tel:
Work +41 58 800 80 00
Fax:
Fax +41 58 800 80 80
Email:
Web:
www.nkf.ch

Show all Press releases

NKF advises EFG International on EUR 251m cash offer and issuance of CHF 180m in new Tier 2 Notes

February 2013

Niederer Kraft & Frey has advised global private banking group EFG International (SIX: EFGN) in connection with its cash offer and consent solicitation to the holders of EFG Fiduciary Certificates, financed through the issuance of new Tier 2 resettable subordinated notes guaranteed by EFG International. BNP Paribas (Suisse) SA and UBS Investment Bank acted as Joint Lead Managers.

EFG International has accepted EUR 251 million in EFG Fiduciary Certificates, representing approximately 95 per cent of the EFG Fiduciary Certificates outstanding, and issued CHF 180 million in new Tier 2 Notes.

The NKF team consisted of Philippe Weber and Daniel Bono, assisted by senior associate Gian-Andrea Caprez and associate Luca Bianchi. Daniela Schmucki and Markus Kronauer provided tax advice.

 

Legal Developments by:
Niederer Kraft & Frey AG

  • Grenzüberschreitende Finanzdienstleistungen

    Der Finanzbereich ist auch in der Schweiz einer der am stärksten regulierten Wirtschaftzweige. Sich darin zurechtzufinden ist nicht immer einfach. Nachfolgende Ausführungen sollen dazu einen Einstieg vermitteln. Sie zeigen, dass die Schweiz im Gegensatz zum Ausland und abgesehen vom Bereich der kollektiven Kapitalanlagen und der Versicherungsprodukte, was die Zulässigkeit von grenzüberschreitend angebotenen Finanzdienstleistungen anbelangt, ein sehr liberales Regime kennt.
    - Niederer Kraft & Frey

Legal Developments in Switzerland

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • May 2016: AMAG Leasing: Second Auto Lease CHF 515m ABS Transaction (Dual Tranche 2016-/2016-2)

    On 4 May 2016, AMAG Leasing AG closed its second auto lease securitization transaction. The transaction was structured as a dual trance transaction involving the issuance of notes with various terms, issued by two separate SPVs. Swiss Car ABS 2016-1 AG (the 2016-1 Issuer) issued CHF 200,000,000 0.15 percent Asset-Backed Class A Notes due 2026 (2y soft bullet) and CHF 15,000,000 1.125 percent Asset-Backed Class B Notes due 2026 (2y soft bullet) and Swiss Car ABS 2016-2 AG (the 2016-2 Issuer) issued CHF 300,000,000 0.30 percent Asset-Backed Class A Notes due 2026 (4y soft bullet). The Notes issued are listed on the SIX Swiss Exchange and are each backed by a portfolio of auto lease assets originated by AMAG Leasing AG and transferred to the Issuers. The Class Notes are rated "AAAsf" by Fitch and "Aaa(sf)" by Moody’s and the Class B Notes are rated «AA+sf» by Fitch and «A1(sf)» by Moody’s. UBS Investment Bank acted as Lead Manager, Sole Bookrunner and Co-Arranger, Credit Suisse and Zürcher Kantonalbank acted as Senior Co-Manager and StormHarbour acted as Co-Arrangers and Co-Manager (Class B Notes) on this transaction.
  • 27 April 2016: Greatbatch/INTEGER

    Following completion of the acquisition of the Lake Region Medical groupe by Greatbatch, Inc. and the renaming of Lake Region Medical into INTEGER, Greatbatch contributed in multiple capital increases own shares to Swiss-based P Medical Holding AG/INTEGER (Switzerland) GmbH, which were swapped against shares in the Irish-based Lake Region Medical Holdings Limited. The transaction was completed by a down-stream merger of P Medical Holding AG into its subsidiary INTEGER (Switzerland) GmbH.
  • April 2016: Mövenpick invests in imported wine wholesaler Cheers in China

    Hospitality and food service industry company Mövenpick invests in Chinese wine wholesaler Cheers by acquiring a strategic stake. Cheers has 30 branch offices in the greater Beijing area and currently generates annual revenues of roughly three million Swiss francs. Mövenpick is a Swiss group of companies with global presence. Its core competency lies in the hospitality business, with a focus on gastronomy, hotels, wine and premium branded products.
  • 22 March 2016: Swiss Life - CHF 600 mio. Hybrid Bonds

    Swiss Life Ltd has successfully placed a CHF 450 million undated subordinated bond, first callable in September 2021 (coupon until first call date: 3.75%) and a CHF 150 million dated subordinated bond with final maturity in 2046, first callable in September 2026 (coupon until first call date: 4.375%).
  • 23 March 2016: J. Safra Sarasin Holding AG to acquire Credit Suisse (Monaco) S.A.M. and Credit Suiss

    Mit Aktienkaufvertrag vom 22. März 2016 erwarb die J. Safra Sarasin Holding AG von der Credit Suisse AG alle Aktien der Credit Suisse (Monaco) S.A.M. Der Vollzug der Transaktion steht unter dem Vorbehalt üblicher Bedingungen, einschliesslich der Zustimmung der Behörden. Der Vollzug der Transaktion soll noch vor Ende 2016 erfolgen. Mit der Transaktion würde eine der grössten Bankengruppe in Monaco entstehen.
  • 28 January 2016: New partner at Walder Wyss

    We are delighted to announce that Theodor Härtsch has joined Walder Wyss as new partner on 21 January 2016.
  • 11 February 2016: Oriflame: Cross-border asset transfer completed

    In a cross-border transfer Oriflame Cosmetics Global S.A., Luxembourg has transferred certain assets to Oriflame Cosmetics AG.
  • 11 March 2016: Joint Venture Wilmaa & Teleboy

    The two Swiss web TV platforms Teleboy and Wilmaa entered into a joint venture arrangement. The joint venture's purpose is to coordinate the marketing activities of Teleboy and Wilmaa through a jointly held service company. Each of the joint venture partners has a 50% stake in the service company.
  • The Revised Swiss Debt Restructuring Law

    Background of the Reform
  • Minder-Initiative – need for action?

    On March 3, 2013, the Swiss people voted in a nationwide ballot in favor of the so called “rip-off” initiative by the businessman-turned-politician Thomas Minder...