Lending & Secured Finance 2021

1 Overview

1.1 What are the main trends/significant developments in the lending markets in your jurisdiction?

2021 has been driven by the COVID-19 pandemic and a statebacked credit support programme for Swiss companies implemented by a Swiss bank-driven initiative. M&A activities remained a driver for financing transactions, but deal values were generally lower than in previous years. The market saw several COVID-19-related restructuring transactions. Further, negative interest rates and the change from LIBOR to other interest rates kept market participants busy.

1.2 What are some significant lending transactions that have taken place in your jurisdiction in recent years?

Many transactions and, in particular, deal values remain confidential. The most prominent transaction published in 2021 was the CHF 1.5 billion COVID-19-related and state-backed credit package for Switzerland's national aviation group "Swiss".