Annette Weber_Thomas Reut­ter

Advestra advises Sandoz on the placement of inaugural bonds

Fol­low­ing its spin-off from Novartis on 4 Octo­ber 2023, San­doz, a glob­al lead­er in the gen­er­ics and biosim­il­ars mar­kets with one of the broad­est port­fo­li­os in the industry, suc­cess­fully placed EUR 2.0 bil­lion seni­or guar­an­teed bonds in three tranches with matur­it­ies of 3 ½, 6 ½ and 10 years (EUR Tranches) and CHF 750 mil­lion seni­or bonds in two tranches with matur­it­ies of 3 and 8 years (CHF Tranches).

The EUR Tranches were issued by a Dutch sub­si­di­ary and guar­an­teed by San­doz Group, where­as the CHF Tranches were issued by San­doz Group. The pro­ceeds will be used for the repay­ment of a bridge loan and for gen­er­al cor­por­ate pur­poses. BNP Pari­bas, J.P. Mor­gan and Mizuho acted as joint act­ive book­run­ners for the EUR Tranches and BNP Pari­bas and UBS as Joint Lead Man­agers for the CHF Tranches.

Advestra acted as Swiss leg­al coun­sel to San­doz. The team included Annette Weber (pictured left) and Thomas Reut­ter (pictured right) as well as Fabi­an Loretan, Sil­van Bie­der­mann and Mil­an Schéda (all cap­it­al mar­kets) as well as Céline Mar­tin (Tax).