Baker McKenzie advises Kantonsspital Aarau AG ("KSA") on the successful issue of its first Green Bond. KSA was able to raise CHF 120 million on the capital market.
The net proceeds are intended to be used, amongst other things, for the financing of "Dreiklang," KSA's new ecological construction project. The company is committed to providing sustainable acute and specialized healthcare. Accordingly, the financing of the new building by means of a green bond is a consistent milestone within the group's overall green strategy.
The offering, prepared under the lead management of UBS and with Basellandschaftliche Kantonalbank as co-manager, was aimed primarily at investors who are interested in investing in green projects such as ecological hospitals. The sustainable bond has a maturity of 15 years and is therefore due 2037. It is issued with a coupon of 1.65% at a price of 100.199%. The settlement will occur on 23 May 2022.
KSA Group is composed of the KSA Aarau Center Hospital, the KSA Zofingen Regional Hospital and the KSA am Bahnhof in Aarau. The group is committed to promoting young talent in medicine and nursing. With more than 5,600 employees from around 80 different nations, it is one of the most important employers in the Canton of Aargau.
Baker McKenzie Switzerland advised KSA on all legal aspects regarding the Green Bond. The team consisted of Matthias Courvoisier (partner, Capital Markets), Yves Mauchle (senior associate, Capital Markets) and Beau Visser (associate, Capital Markets).