Advestra advises Swiss Prime Site with convertible loan notes
Swiss Prime Site has issued convertible loan notes in the aggregate amount of CHF 275 million to ELM, a repackaging vehicle. ELM in turn issued exchangeable notes, which were placed with investors and are exchangeable into shares of Swiss Prime Site.
These exchangeable notes have been successfully placed to investors in and outside Switzerland and pricing of both notes has been determined based on an accelerated bookbuilding process. The use of the repackaging vehicle allows Swiss Prime Site to diversify its funding strategy at attractive terms as well as its real estate portfolio in general.
Advestra acted as legal counsel to Swiss Prime Site. The team included partners Sandro Fehlmann (pictured left), Annette Weber (pictured centre), Thomas Reutter (pictured right), associate Valérie Bayard and Samuel Fäh (all capital markets) as well as Céline Martin (tax).
