Baker McKenzie Zurich advised UBS Switzerland AG and the other syndicate banks in connection with an amendment and restatement of the multicurrency revolving credit facilities agreement for Implenia AG. UBS Switzerland AG, Credit Suisse (Switzerland) AG, Zürcher Kantonalbank and Raiffeisen Schweiz Genossenschaft are acting as mandated lead arrangers under the Credit Facilities Agreement and the bank syndicate consists of eighteen Swiss banks.

In 2018, Implenia took a pioneering role by linking its credit conditions to an ESG rating of Sustainalitics. In connection with Implenia’s accelerated and sharpened execution of its business strategy and its initiative «Implenia Way Forward», the Credit Facilities Agreement has been amended. This was facilitated by the fact that over the last three years Implenia managed to increase its ESG scoring to excellent 79 points. Therefore, Implenia not only improved its credit conditions, it also substantially contributed to an increase of sustainability in the construction market. Furthermore, in connection with this amendment, a mechanism was introduced to switch LIBOR to SARON as risk-free base rate. This is one of the very first financing transactions in the Swiss market where such a rate switch is introduced.

The Baker McKenzie team consisted of Lukas Glanzmann (Partner, Banking & Finance), Philip Spoerlé (Senior Associate, Banking & Finance), Markus Wolf (Senior Associate, Banking & Finance), Charlotte Rüegg (Senior Associate, Banking & Finance) and Andrea Bolliger (Counsel, Tax).
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