Capital markets in Switzerland

Homburger

Active across the full spectrum of capital markets transactions, Homburger is a tour-de-force when it comes to regulatory and tax aspects and is also highly experienced in managing international transactions for Swiss issuers and securities issues. The practice is jointly helmed by Frank Gerhard, who maintains a strong presence within the chemicals and life sciences sectors, and Benjamin Leisinger, who operates for a plethora of clients with regards to equity-linked and debt transactions. Dieter Gericke is well-positioned to advise on private placements within the life sciences sector, while Benedikt Maurenbrecher‘s arsenal of skills encompasses international bond offerings and covered bonds. Daniel Daeniker is well-versed in TMT and financial services sectors. Daniel Häusermann and Daniel Haeberli, who manages a range of securitised structured products, are other key names to note in the practice.

Praxisleiter:

Frank Gerhard; Benjamin Leisinger


Weitere Kernanwälte:

Dieter Gericke; Benedikt Maurenbrecher; Daniel Daeniker; Daniel Häusermann; Daniel Haeberli


Referenzen

‘Deep knowledge of complex capital markets, and they have the ability to manage major projects in a timely manner.’

‘Attention to detail in a high volume of legal documents, provide precise and comprehensive reports.’

‘The team is unique due to a combination of specialised expertise, regulatory insight and strategic advisory skills.’

Kernmandanten

Galderma


EQT


Meyer Burger


Santhera Pharmaceuticals


Jefferies


Leerink Partners


ADC Therapeutics


Nice & Green


UBS Group


Roche


Nestlé


DWS Group


AMAG Leasing


Basler Kantonalbank


Zürcher Kantonalbank


Stiftung PWG


Avolta


Thermo Fisher Scientific


J.P. Morgan


Goldman Sachs


Morgan Stanley


Bank Julius Bär


Luzerner Kantonalbank


Banque Pictet


Union Bancaire Privée


Citigroup


Bank J. Safra Sarasin


Highlight-Mandate


  • Advised Galderma and EQT as transaction counsel on Galderma’s $17bn IPO.
  • Advised Meyer Burger as legal and tax counsel on CHF206.75m deep discount rights offering.
  • Advised ADC Therapeutics on legal and tax aspects of $105m cross-border offering of shares and warrants.

Niederer Kraft Frey AG

With demonstrable strengths across the pharmaceutical, financial services, and transport sectors, Niederer Kraft Frey AG also excels across the full gamut of capital markets transactions, including domestic securitisation and covered bond transactions, rights offerings, and public takeovers. The team is recommended for its ‘in-depth expertise’ and ‘excellent co-operation’. Philippe Weber harnesses his expertise in equity and debt capital market transactions to assist an array of issuers and other investors, while Daniel Bono enjoys extensive experience in handling issuance mandates. Thomas Brönnimann is highly experienced in advising issuers and investment banks in relation to IPOs, convertible bonds and block trades, and Philipp Haas strengthens the practice with his equity and convertible debt transactions, alongside market conduct rules.

Weitere Kernanwälte:

Philippe Weber; Daniel Bono; Thomas Brönnimann; Philipp Haas


Referenzen

Very hands-on approach of the team lead by Philipp Haas, always acting pragmatic and trying to focus on the key value-drivers.’

‘As a client you feel like the team is genuinely interested in protecting the interests of your company.’

‘Philipp Haas is a trusted advisor of the company beyond his core competency of corporate/capital markets.’

Kernmandanten

Swiss Confederation


UBS


Autoneum Holding AG


Citigroup Global Markets Europe AG


ING Bank N.V.


Kunshan Dongwei Technology Co., Ltd.


Shenzhen Senior Technology Material Co.


Zhejiang Huayou Cobalt Co., Ltd.


Clariant


R&S Group


CGS Management AG


J.P. Morgan Securities


Goldman Sachs


Morgan Stanley


Bank of America


Zürcher Kantonalbank


Swiss Steel Holding AG


Apollo


Highlight-Mandate


  • Advised a syndicate of 15 global investment banks, led by Goldman Sachs, Morgan Stanley, and UBS as joint global coordinators, on the CHF2.3bn IPO of Galderma Group AG that launched on 13 March 2024 (largest European IPO of the year 2024 to date).
  • Advised Global Blue Group Holding AG and its principal shareholders Silver Lake (U.S. Private Equity House) and Partners Group (Swiss Private Equity House) on the issue and sale of common shares in the amount of $120m to Tencent as investor.
  • Advised R&S Group, a leading provider of electrical infrastructure components in Switzerland and international markets, and its main shareholder CGS Management AG, on the entry into a Business Combination Agreement with and listing on SIX through VT5 Acquisition Company AG, the SIX-listed SPAC.

Advestra

Counting a multitude of blue-chip companies among their key roster of clients, ‘hands on’ Advestra possesses a strong grounding in equity-linked and regulatory capital issuances, spin-offs, and IPOs. Thomas Reutter is entrusted by a diverse range of issuers and banks, and Annette Weber is more than capable of advising clients on a variety of debt capital markets transactions. Sandro Fehlmann is particularly adept in relation to regulatory hybrid instruments, while Alexander von Jeinsen holds a wealth of experience within the remit of rights offerings.

Weitere Kernanwälte:

Thomas Reutter; Annette Weber; Sandro Fehlmann; Alexander von Jeinsen


Referenzen

‘It is a pleasure to work with these lawyers as they are diligent, friendly, responsive and on top of things in Switzerland.’

‘Annette Weber is super calm and knowledgeable, always reachable, very diligent and great to work with.’

‘Alexander von Jeinsen has perfect knowledge about sector and law and is a great communicator.’

Kernmandanten

UBS


Novartis


Goldman Sachs International


Swiss Prime Site


Jefferies


Sandoz


Barry Callebaut


Swiss Re


Lonza Group


Highlight-Mandate


Baker McKenzie Switzerland AG

Matthias Courvoisier and Yves Mauchle jointly lead the practice at Baker McKenzie, which frequently handles matters pertaining to equity and debt transactions, derivatives, and structured finance matters, alongside advising banks active in securitisation and an array of international capital markets matters. Courvoisier is highly experienced in the remit of IPOs and public takeovers, while Mauchle actively handles a litany of mandates, including GDR offerings, capital increases, and high yield bonds. Ansgar Schott employs his considerable expertise in managing structured products, investment funds and debt instruments to further bolster the practice. Tanja Schmid contributes her strengths in financial services to the team.

Praxisleiter:

Matthias Courvoisier; Yves Mauchle


Weitere Kernanwälte:

Ansgar Schott; Tanja Schmid


Referenzen

‘Very short reaction time, have a broad and deep knowledge in capital markets issues and are very close to upcoming law developments.’

‘Matthias Courvoisier has very broad knowledge and a very good network.’

‘Great expertise at the right price. We are always confident to have the right partner, also under time pressure.’

Kernmandanten

Georg Fischer AG


DocMorris AG


Helveteq AG


R&S Group Holding AG


Schaffner Holding AG


DBS Bank


UBS AG


SBI Digital Asset Holdings Co., Ltd.


Von Roll Holding AG


Lalique Group SA


Fundamenta Real Estate AG


GEM Co., Ltd.


Investis AG


Meier Tobler AG


PSP Swiss Property AG


Varia US Properties AG


Varia Europe Properties AG


ISP Securities AG


Leonteq Securities AG


Zürcher Kantonalbank


Credit Suisse AG


Deutsche Bank AG


ING


Highlight-Mandate


  • Advised VT5 Acquisition Company AG, a SIX-listed Swiss special purpose acquisition company, on the acquisition of R&S International Holding AG in the context of the agreed business combination to take R&S Group public on the SIX Swiss Exchange.
  • Advised Schaffner Holding AG, a leading producer in electromagnetic solutions based in Switzerland, on the public tender offer for all of its publicly held shares by TE Connectivity a global industrial technology company specialising in connectivity and sensing solutions.
  • Acted as legal advisor to DBS Bank, UBS AG, and SBI Digital Asset Holdings Co., Ltd. on the world’s first cross-border repo and natively-issued digital bond fully executed and settled on a public blockchain.

Bär & Karrer Ltd.

With an established presence across banking, technology, and healthcare sectors, the ‘exceptionally responsive and collaborative’ Bär & Karrer Ltd. retains a broad offering that extends across equity-linked and regulatory capital instruments, spin-offs, and bond issuances. Urs Kägi, Lukas Roesler, Ralph MalacridaRolf Watter, and Dieter Dubs are the key names operating at the forefront of the practice: Kagi contributes his capabilities in equity capital markets, while Roesler is counted on by a host of issuers, borrowers, and investors. Malacrida excels at handling M&A and corporate transactions, and Watter is notably experienced in corporate governance questions. Dubs principally focuses on public tender offers.

Praxisleiter:

Urs Kägi; Lukas Roesler; Ralph Malacrida; Rolf Watter; Dieter Dubs


Weitere Kernanwälte:

Martin Anderson; Frédéric Bétrisey


Referenzen

‘The team supporting us in the capital markets was exceptionally responsive and collaborative.’

‘Each member contributed valuable insights during meetings and calls, leaving me confident that action points would be followed up appropriately.’

‘The team adeptly navigated the complexities between jurisdictional norms and practices, providing clarity and translation where necessary.’

Kernmandanten

Axpo Holding AG


Vontobel


Syngenta


Sandoz Group


UBS AG


Novartis


Lonza Group AG


Firmenich


DSM


Highlight-Mandate


  • Advised Novartis and Sandoz on the Spin-off of Sandoz.
  • Advising Axpo on its EUR7bn Sustainability Linked Credit Facilities.
  • Advising Firmenich in its Merger with DSM.

Lenz & Staehelin

Recommended for its ability to provide ‘creative solutions’, Lenz & Staehelin maintains an expansive offering that is comprised of IPOs, rights offerings, and exchange offers, to name a few. Three key players lead the group: Jacques Iffland, who is regularly entrusted by asset management groups, banks, and investment firms with issues arising from the financial markets industry, Patrick Schleiffer, who handles a litany of capital markets, stock exchange, and securities law, and Tino Gaberthüel, a practitioner who is active on both a domestic and international scale. Marcel Tranchet is geared to handle a host of financing matters, while Ariel Ben Hattar demonstrates proficiencies across financial technology, disclosure requirements, and regulatory matters. Patrick Schärli is a strong choice for issuers and banks in an array of equity and debt mandates.

Praxisleiter:

Jacques Iffland; Patrick Schleiffer; Tino Gaberthüel


Weitere Kernanwälte:

Marcel Tranchet; Ariel Ben Hattar; Patrick Schärli


Referenzen

‘Outstanding background in connection with Swiss public tender offer law aspects.’

‘High commitment to client satisfaction.’

‘Able to find creative solutions.’

Kernmandanten

Autoneum Holding AG


Novartis


Sandoz


City of Geneva


Amundi Asset Management


Sika


Medartis Holding AG


Structured Commodity & Corporate Finance


Edizione


Highlight-Mandate


Walder Wyss Ltd.

Walder Wyss Ltd. employs its vast experience across both debt and equity capital markets mandates to advise a host of issuers and arrangers with covered bond transactions, regulatory issues, and public M&A transactions. The practice is jointly led by Theodor Härtsch, who is regularly immersed in the remit of debt and equity securities, structured finance expert Lukas Wyss, and Alex Nikitine, who covers all facets of public M&A transactions. Markus Pfenninger is an experienced practitioner in the debt capital markets space, while Johannes Bürgi is well-versed in the structured finance and securitisation area. Another name to note in the practice is Urs Schenker.

Praxisleiter:

Theodor Härtsch; Lukas Wyss; Alex Nikitine


Weitere Kernanwälte:

Markus Pfenninger; Johannes Bürgi; Urs Schenker


Referenzen

‘Know how of the people and internal coordination of the experts.’

Kernmandanten

Credit Suisse AG


UBS AG


BNP Paribas


Swiss Life


BOBST Group SA


Cornèr Banca SA


AMAG Leasing AG


CABB group


J.P. Morgan


Swiss Finance & Properties AG


Helvetica Property


Mizuho


Highlight-Mandate


Kellerhals Carrard

Spearheaded by Beat Brechbühl and Luca Bianchi , the ‘knowledgeable, to the point and pragmatic’ team at Kellerhals Carrard routinely deploys its strong capabilities in green bond and green financial product transactions to advise notable financial names, alongside a wide range of other capital market transactions on a domestic and cross-border scale. Brechbühl’s arsenal of skills include capital increases and IPOs, with Bianchi being well-versed on the debt capital markets side, advising an array of public and international clients on these matters. Armin Kühne, who regularly advises clients on capital markets structures, and Dominik Oberholzer, who is well-positioned to advise on asset management and listed financial products, strengthen the team’s offering. Jean-Luc Chenaux fields a considerable ESG workload in this space.

Praxisleiter:

Beat Brechbühl; Luca Bianchi


Weitere Kernanwälte:

Armin Kühne; Dominik Oberholzer; Jean-Luc Chenaux


Referenzen

‘The team is very knowledgeable, to the point and pragmatic.’

‘Kellerhals Carrard has a team of outstanding lawyers with a comprehensive knowledge of the market and client needs.’

‘They are responsive, diligent and always willing to go the extra mile.’

Kernmandanten

ARGA MedTech


Bank Vontobel


BKW AG


BV Holding


Skan


Chartered Investment


Clever Portal Issuance PCC


Dätwyler Holding Inc.


Deutsche Bank


Disruptive Issuance PCC Ltd


Edisun Power Europe AG


Espace Real Estate Holding AG


Franklin Templeton


Galenica


Kursaal Bern AG


LEM Surgical AG


Macquarie


MoonLake Immunotherapeutics AG


Neur.on


Pula Advisors


RealUnit Schweiz AG


STILLE AB


Sygnum Bank


Timeline


UBS AG


Vaudoise Assurances Holding SA


Vifor Pharma


Ypsomed Holding


Highlight-Mandate


  • Advised Galenica on their successful placement of fixed rates bonds of over CHF240m and over CHF100m respectively.
  • Advised Alt. Inv. PCC Limited on the establishment of an issuance programme for structured products pursuant to the Financial Services Act.
  • Advising Swiss investment company RealUnit in its planned and ongoing multi-million CHF IPO of its shares on the Swiss exchange BX Swiss.

MLL Legal

A strong choice for issuers and investment banks, the ‘excellent’ MLL Legal‘s strengths lie in regulatory matters, cross-border mandates, and collective investment schemes. The practice is jointly steered by Wolfgang Müller, who is notably active across real estate, M&A, and capital markets matters, and Catrina Luchsinger Gähwiler, who operates for banks, asset managers, and investment vehicles across a diverse multitude of capital markets matters. Andrea Sieber’s litany of skills extend across private equity and capital market transactions, while Daniel Schoch covers the full gamut of financing transactions. Christoph Heiz is recommended for his considerable expertise in handling matters arising from regulated industries.

Praxisleiter:

Wolfgang Müller; Catrina Luchsinger Gähwiler


Weitere Kernanwälte:

Andrea Sieber; Daniel Schoch; Christoph Heiz


Referenzen

‘The MLL team are top professionals, super- responsive, highly qualified lawyers. They have demonstrated deep industry familiarity and innovative approach to novel questions. MLL has stood out in their ability to be client-oriented balancing between business growth and legal considerations.’

‘Collaboration works well. Work is efficiently divided between work product creation and review.’

‘Wolfgang Müller is very responsive, has a great deal of expertise and can communicate the results of work in an understandable and concise manner.’

Kernmandanten

Liontrust Asset Management PLC


NOVAVEST Real Estate AG


Allreal Holding AG


Burkhalter Holding AG


Schlatter Industries AG


Backed Finance AG


SenioResidenz AG


VanEck


Calida Holding AG


Pyth Data Association


DOTTIKON ES HOLDING AG


HIAG Immobilien Holding AG


Iconic Funds BTC ETN GmbH


Meyer Burger Technology AG


Highlight-Mandate


  • Advised UK based and London Stock Exchange listed Liontrust Asset Management PLC on the public tender offer regarding all shares of SIX Swiss Exchange listed GAM Holding AG (voluntary and friendly initiated exchange offer).
  • Advised SIX Swiss Exchange listed NOVAVEST Real Estate AG on the takeover of and merger with SIX Swiss Exchange SenioResidenz AG creating a merged company with a property portfolio with a market value exceeding CHF1bn.
  • Advised SIX Swiss Exchange listed Allreal Holding AG relating to the issuance and listing of its 2024 and 2023 green bonds in the amount of CHF150m each.

Pestalozzi

The ‘knowledgeable’ team at Pestalozzi boasts a breadth of experience that encompasses debt capital transactions, high yield bond issues, derivatives, and private placements. Leading the equity capital markets side of the practice, Christian Leuenberger is noted for his expertise in private placements and public offerings. Steering the firm’s debt capital markets offering, Oliver Widmer assists banks, financial institutions, and wealth managers with a host of issues. Another name to note is Urs Klöti, who manages a variety of banking, finance and capital markets mandates. Severin Roelli and Beat Schwarz are also recommended.

Praxisleiter:

Christian Leuenberger; Oliver Widmer


Weitere Kernanwälte:

Urs Klöti; Severin Roelli; Beat Schwarz


Referenzen

‘Practical, prompt and business-oriented advice.’

‘Knowledgeable team and easy to work with.’

‘They ensure high quality advice, appropriate team structure, fast problem solving and proactive overview of projects.’

Kernmandanten

AGCO Corporation


Achiko AG


Apollo


Bank of America Merrill Lynch


Blackstone Capital


Citigroup


Coca Cola HCB


Credit Suisse


Deutsche Bank


DTEK


European Investment Bank


Glencore


Goldman Sachs


H.C. Wainwright & Co


Helix Acquisition Corp


Instimatch


J.P. Morgan


L1 Capital


Leclanché


Mettler2Invest


Noble


RiverRock European Capital Partners LLP


Schlumberger


STX Fixed Income


SVB Leerink


Swisscom


Vicenda


Highlight-Mandate


  • Advised H.C. Wainwright LLC on the private placements in NLS Therapeutics Ltd.
  • Advised Leclanché SA on its most recent $84.7m debt-to-equity conversion.
  • Advised Coca Cola Hellenic Bottling on its new EUR5bn EMTN Programme.

Schellenberg Wittmer Ltd

Philippe Borens and Tarek Houdrouge head up the comprehensive capital markets offering at Schellenberg Wittmer Ltd, which routinely operates for clients that are active across financial services, energy, and IT sectors with regards to exchange-traded derivatives, public takeovers, and the issuance of structured products. Borens enjoys a wide-ranging set of skills, encompassing bonds and notes issues, hedge funds, and regulatory issues, while Houdrouge possesses considerable transactional expertise across banking and finance and capital markets. Olivier Favre is highly experienced in relation to an array of financing transactions, and Lorenzo Olgiati is a solid choice for publicly listed companies who require assistance with corporate governance and ESG issues.

Praxisleiter:

Philippe Borens; Tarek Houdrouge


Weitere Kernanwälte:

Olivier Favre; Lorenzo Olgiati


Referenzen

‘The collaboration was fast and good.’

‘The individuals are proactively thinking on management and highlighting risks and advising on possible solutions.’

‘They think out of the box.’

Kernmandanten

BNP Paribas


Bank Reichmuth


AXA Life Ltd


Barclays Bank PLC


First Quantum Minerals


Schroder & Co Bank


Ams-OSRAM AG


Bank Vontobel


Raiffeisen Switzerland


Spice Private Equity Ltd


Deutsche Bank


Zurich Kantonalbank, Zurich


Credit Suisse AG


UBS AG


InRoll AG


International Swaps and Derivatives Association


Futures Industry Association


Swiss Bankers Association


China Construction Bank


Leonteq Securities AG


Standard Chartered


Helvetische Bank AG


Bauwerk Boen AG


Reuss Private Group AG


Mirabaud Asset Management


REYL & Cie SA


PIERER Mobility AG


Technogroup IT Services AG


OC Oerlikon Corporation Pfäffikon


Conforama Suisse SA


Brera Partners Switzerland AG


CAT Financial Products Ltd.


Avaloq Group


Julius Baer Group


Asker Healthcare Group


Highlight-Mandate


  • Acted as co-counsel for Sosei Heptares on its acquisition of Idorsia Pharmaceuticals Ltd’s pharmaceuticals business in Japan and APAC.
  • Acted as Swiss counsel to SPRIM Global Investments, a health sciences venture capital firm, in its USD capital commitment in favour of Spexis AG.
  • Advises BNP Paribas SA on CHF410m notes issued by EnBW.

VISCHER

Maintaining a broad practice that spans both domestic and international scale mandates, VISCHER‘s capital markets team demonstrates proficiencies in bonds issues, share listings, and public takeovers, and also retains high activity on the regulatory front. Practice head Adrian Dörig is a notable specialist in structured finance transactions, whereas Markus Guggenbühl excels across a multitude of equity, debt, and hybrid financial instruments. Robert Bernet is highly capable in the remit of transaction management, and Jana Essebier is noted for her strengths in handling a variety of financial instruments, drawing upon her substantial banking expertise to do so.

Praxisleiter:

Adrian Dörig


Weitere Kernanwälte:

Markus Guggenbühl; Robert Bernet; Jana Essebier


Kernmandanten

Relief Therapeutics Holding SA


Fidera Vecta Limited


Lallemand, Inc.


Danstar Ferment AG


Elliott Advisors (UK) Limited


PricewaterhouseCoopers AG (liquidator of Lehman Brothers in Switzerland)


Forty51 Advisors AG


Oculis SA


Hangzhou GreatStar Industrial


Warteck Invest


Highlight-Mandate


  • Advising hedge fund Elliott on various matters with Swiss ends or involvements.
  • Advised Relief Therapeutics Holding SA on all its major capital markets transactions and on compliance with capital markets and stock exchange rules.
  • Advising a client regarding listing at the SIX Swiss Exchange of, and investment in, global depository receipts of Chinese issuers representing their A shares listed at the Shanghai or Shenzhen Stock Exchange.

CMS von Erlach Partners Ltd.

Offering a broad capital markets practice to its clients, CMS von Erlach Partners Ltd. demonstrates particular capabilities in relation to cross-border finance transactions and multi-jurisdictional regulatory issues. Steering the practice is Matthias Kuert, who deploys his capital markets compliance and proxy fights experience to assist major shareholders of listed companies, whereas Tina Balzli possesses vast expertise in the remit of international and Swiss regulatory requirements, among other issues.

Praxisleiter:

Matthias Kuert


Weitere Kernanwälte:

Tina Balzli


Kernmandanten

Talenthouse AG


Float Lending AB


Wockhardt Bio AG


Aequitec AG


Highlight-Mandate


  • Advising Float Lending AB on the issuance of tokenised notes which were then placed to investors by way of a private placement.
  • Advising Wockhardt Bio AG on the voluntary delisting of its shares from BX Swiss AG.
  • Advising Aequitec on their entire set-up, including the Swiss and foreign capital market law aspects of Aequitec’s listed company clients.

Valfor

Marc Grüninger, Jean-Yves Rebord, and Christophe De Kalbermatten are the key names operating at the forefront of the capital markets team at Valfor Attorneys-at-law, which counts financial institutions, investors, and issuers among its client base. Core streams of work for the group encompasses IPOs, compliance matters, and rights issues.

Praxisleiter:

Marc Grüninger; Jean-Yves Rebord; Christophe de Kalbermatten


Kernmandanten

Cemex S.A.B. de C.V.


Koa Switzerland AG


Highlight-Mandate


Wenger Vieli Ltd

Wenger Vieli Ltd is particularly well-positioned to advise on equity capital markets transactions, and regularly advises on public takeover bids and defence strategies. Leading the group is Pascal Honold, who possesses vast expertise in relation to disclosure requirements, public takeover bids, and hybrid instruments. Other key contacts in the team are Beat Speck and Wolfgang Zürcher, who bolster the firm’s offering with their substantive experience in the field.

Praxisleiter:

Pascal Honold


Weitere Kernanwälte:

Beat Speck; Wolfgang Zürcher


Referenzen

‘Great service, very responsive.’

Kernmandanten

Sygnum Bank


NLS Pharmaceutics


Burckhardt Compression Holding


Vontobel Holding


Züblin Immobilien Holding


Turnqey


Alegra Capital


Daimler


Swiss Property


Private Equity Holding


u-blox Holding


Crealogix Holding


Highlight-Mandate


  • Advised NLS Pharmaceutics on PIPE transaction.
  • Advised NLS Pharmaceutics on its private placement and conversion of existing short-term notes.