Advestra: Barry Callebaut’s Eurobonds placement

Advestra advised Barry Callebaut on the placement of CHF 730 mil­lion bonds in the Swiss mar­ket on 17 May 2024. In addi­tion, Barry Cal­le­baut issued Euro­bonds in the amount of EUR 700 mil­lion on 14 June 2024. The issu­ances were made to achieve great­er fin­an­cial flex­ib­il­ity against the back­drop of the cocoa bean price mar­ket environment.

About the issuance

The issuance consisted of three tranches with the first of CHF 240 mil­lion and a coupon of 1.8% will be due in 2026. The aggreg­ate prin­cip­al amount of the second tranche amounts to CHF 270 mil­lion with a coupon of 2.05% and will mature in 2030 and the third tranche of CHF 220 mil­lion matur­ing in 2034 has a coupon of 2.4%. UBS and Zürch­er Kan­ton­al­bank acted as joint lead man­agers in this transaction.

The 14th June 2024 issu­ance of the Euro­bonds is in the amount of EUR 700 mil­lion with a matur­ity in 2029 and a coupon of 4%. These seni­or guar­an­teed bonds were issued by Barry Cal­le­baut Ser­vices and guar­an­teed by Barry Cal­le­baut. BNP Pari­bas acted as Glob­al Coordin­at­or and ING, J.P. Mor­gan, Coöperatieve Rabobank U.A. and Société Générale as joint lead man­agers in this transaction.

Advestra’s team

Advestra acted as leg­al coun­sel to Barry Cal­le­baut in con­nec­tion with both issu­ances. The team comprised Annette Weber (pictured), Thomas Reut­ter, Luca Schmid and Mil­an Schéda (all cap­it­al markets).