Baker McKenzie Switzerland advised Zur Rose Group AG ("Zur Rose") in connection with the repurchase offer for its CHF 115 million bond due 2023. On 23 September 2022, Zur Rose announced an invitation to bondholders to tender any and all of their 2.50% bonds due 19 July 2023 ("Bonds") for cash ("Tender Offer"). After an extension was announced on 7 October 2022, the Tender Offer ended on 20 October 2022.
The aggregate amount that Zur Rose has accepted for purchase is CHF 84,745,000, representing 73.7% of the aggregate principal amount of the Bonds. Therefore, the remaining outstanding amount of the Bonds is CHF 30,255,000. The Tender Offer purchase price amounted to CHF 5,000.00 per Bond, respectively 100.00% of the par value, plus the accrued and unpaid interest of CHF 33.68 (0.67%).
The Bonds are listed and traded at SIX Swiss Exchange (ISIN: CH0421460442). The Tender Offer was being made as part of Zur Rose's active management of its balance sheet following the recent capital market transactions intended to refinance the Bonds early. In addition, the Tender Offer was intended to provide liquidity for investors in the Bonds.
The Tender Offer was managed by UBS as tender agent and dealer manager.
Zur Rose 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. Zur Rose' shares are listed on SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE).
Baker McKenzie advised Zur Rose in all legal aspects of this deal. The Baker McKenzie team consisted of Zurich-based capital markets lawyers Matthias Courvoisier (partner), Yves Mauchle (senior associate) and Bettina Klein (associate) as well as Tatiana Ayranova (associate, banking and finance, Geneva) and Hayley Ryerson (trainee, Zurich).
The aggregate amount that Zur Rose has accepted for purchase is CHF 84,745,000, representing 73.7% of the aggregate principal amount of the Bonds. Therefore, the remaining outstanding amount of the Bonds is CHF 30,255,000. The Tender Offer purchase price amounted to CHF 5,000.00 per Bond, respectively 100.00% of the par value, plus the accrued and unpaid interest of CHF 33.68 (0.67%).
The Bonds are listed and traded at SIX Swiss Exchange (ISIN: CH0421460442). The Tender Offer was being made as part of Zur Rose's active management of its balance sheet following the recent capital market transactions intended to refinance the Bonds early. In addition, the Tender Offer was intended to provide liquidity for investors in the Bonds.
The Tender Offer was managed by UBS as tender agent and dealer manager.
Zur Rose 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. Zur Rose' shares are listed on SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker ROSE).
Baker McKenzie advised Zur Rose in all legal aspects of this deal. The Baker McKenzie team consisted of Zurich-based capital markets lawyers Matthias Courvoisier (partner), Yves Mauchle (senior associate) and Bettina Klein (associate) as well as Tatiana Ayranova (associate, banking and finance, Geneva) and Hayley Ryerson (trainee, Zurich).
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