Baker McKenzie Switzerland — along with Baker McKenzie lawyers from the Netherlands and the UK — advises DocMorris on the offering of CHF 200 million 3.00% senior unsecured bonds due 2029, guaranteed by DocMorris AG and convertible into its shares. DocMorris Finance B.V., a directly wholly-owned subsidiary of DocMorris AG, acted as issuer. The bond offering was accompanied by a stock loan arrangement to facilitate investors' hedging activities and a concurrent delta placement of shares to enable short-selling for hedging purposes (accelerated book-building).

Following the approval of DocMorris’ CardLink e-prescription redemption channel, DocMorris has now full digital access to the German EUR 55bn Rx market. DocMorris continuously seeks to optimize and strengthen its balance sheet to support its strategy and deliver a sustainable and profitable growth. Concurrently with the transaction, DocMorris intends to refinance the outstanding CHF 122 million convertible bond due in March 2025, for which it launched a tender offer. The combined transaction, including extra proceeds from the offering of the new bonds, is intended to provide DocMorris with additional headroom to support its strategy.

Baker McKenzie acted as legal counsel to DocMorris on the combined offering and repurchase transaction. Swiss capital markets partners Matthias Courvoisier and Yves Mauchle led the Baker McKenzie team, which included, amongst others, the following members:

Baker McKenzie Switzerland

  • Capital markets associates Tanja Schmid, Bettina Klein, Jan Lusti and Jasmin Vögtli as well as Andrea Bolliger (counsel, tax) and Giulia Ocskay (trainee lawyer)

Baker McKenzie Amsterdam

  • Tim Alferink (partner, capital markets) and Willem van Rees (associate, capital markets)

Baker McKenzie London

  • Adam Farlow (partner, capital markets) and Charles Farnsworth (counsel, capital markets)
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