Baker McKenzie advised Credit Suisse (Switzerland) Ltd. as mandated lead arranger and coordinator, agent and security agent, as well as a syndicate of banks consisting of Raiffeisen Schweiz Genossenschaft, Basellandschaftliche Kantonalbank and Basler Kantonalbank in a CHF 145,000,000 and CHF 120,000,000 senior secured revolving credit financing for SR Technics Switzerland AG, with the Swiss Confederation, represented by the Swiss Federal Department of the Environment, Transport, Energy and Communications, acting as surety provider. This transaction is a primer in the Swiss market, as it is the first syndicated bank financing granted in the context of the COVID-19 pandemic which is partially secured by a surety provided by the Swiss Confederation.
Headquartered in Kloten, Switzerland, SR Technics operates internationally as a provider of technical maintenance services for aircraft, components and engines. Just like the entire aviation industry, it was significantly affected by the economic repercussions of the COVID-19 pandemic. Given SR Technic's importance in ensuring that Switzerland's airports continue to operate in an orderly manner, the Swiss Confederation secures the financing with a surety covering 60% of the CHF 120,000,000 Facility B. 
Baker McKenzie acted as sole legal advisor to the lenders. The team was led by partner Lukas Glanzmann (Banking & Finance, Restructuring & Insolvency) and included senior associates Philip Spoerlé (Banking & Finance) and Markus Wolf (Banking & Finance, Restructuring & Insolvency), counsel Andrea Bolliger (Tax) and trainee lawyer Jan Lusti (Corporate, Banking & Finance).
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