Zurich, 5 September 2022 — Baker McKenzie Switzerland — along with lawyers from the London and Amsterdam office — advised Zur Rose Group AG ("Zur Rose" or the "Company") on the placement of convertible bonds due 2026 and a capital increase through an accelerated bookbuilding ("ABB") process.
Zur Rose, via its subsidiary Zur Rose Finance B.V., completed the offering of unsecured bonds due in 2026 guaranteed by the Company and convertible into shares of the Company ("Convertible Bonds Offering") with gross proceeds of CHF 95 million.
Alongside the Convertible Bonds Offering, the Company offered new registered shares, which were placed with institutional investors in an ABB under exclusion of pre-emptive rights. Zur Rose increased its share capital with the issue of CHF 44 million worth of newly registered shares.
Zur Rose Group intends to use the net proceeds from the Convertible Bond Offering and the ABB (i) to refinance the outstanding bonds issued by the Company that are due in July 2023 and (ii) for general corporate purposes.
The Swiss-based Zur Rose Group is Europe's largest e-commerce pharmacy and one of the leading medical wholesalers in Switzerland. It also operates the leading marketplace in southern Europe for consumer health, beauty and personal care products commonly sold in pharmacies. The shares of Zur Rose Group AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE).
Baker McKenzie advised Zur Rose on all legal aspects of the Convertible Bond Offering and the ABB. The Baker McKenzie team was led by Matthias Courvoisier and Yves Mauchle and included Bettina Klein, Jan Lusti, Tanja Schmid and Beau Visser, all from the capital markets team in Zurich. Furthermore, tax lawyers Andrea Bolliger and Alexandra Garg and trainee lawyer Hayley Ryerson from the Zurich office as well as Adam Farlow (capital markets, London), Tim Alferink and Daniel Kelderhuis (both capital markets, Amsterdam) were part of the team.