Swiss Prime Site issued convertible loan notes in the aggregate amount of CHF 275 million to ELM B.V., a repackaging vehicle.

ELM in turn issued its own exchangeable notes secured by the convertible loan notes issued by Swiss Prime Site. These exchangeable notes are convertible into registered shares of Swiss Prime Site and have been successfully placed with investors in and outside Switzerland. Through this new equity-linked financing, Swiss Prime Site reinforces its diversified and conservative funding strategy using the wide range of funding instruments available, extends its average debt maturity and raises financing at attractive terms.

Niederer Kraft Frey advised Citigroup Global Markets Europe AG and UBS AG, London Branch in their capacity as joint lead managers.

The NKF team was led by Corporate/Capital Markets partners Philippe Weber and Thomas Brönnimann, working with associate Benedikt Hadorn (Corporate/Capital Markets).

9 June 2023