Baker McKenzie advises Cicor on reopening of its mandatory convertible bonds

Baker McKenzie has advised Cicor on the exercise of  its option to reopen its issuance of mandatory convertible bonds due 2027 in an amount corresponding to CHF 40,188,000 and to sell those bonds to One Equity Partners.

The mandatory convertible bonds of Cicor, convertible into shares at the conversion price of CHF 47.50, were initially issued with an issuance volume of CHF 20 million. Pre-subscription rights for the total volume of CHF 60.188 million were granted to shareholders. Cicor reserved the option to reopen the issuance of the mandatory convertible bonds up to a total issue amount of CHF 60.188 million within 12 months after the completion of the initial issuance and offering, depending on the financing needs of the Company. OEP has, at the request of the Company, committed to purchasing further bonds up to the total issue amount for this period. 

Last 27 September 2022, Cicor reopened the issuance of its mandatory convertible bonds in CHF 40,188,000 and its option to sell those newly issued bonds to OEP. The net proceeds of the reopening increase Cicor’s financial flexibility and strengthen its balance sheet in relation to future acquisitions. The additional mandatory convertible bonds were admitted to provisional trading on the SIX Swiss Exchange.

The Cicor Group is an international electronics service provider with a wide range of products and services in the fields of printed circuit board assembly, system assembly and box building, switchgear cabinet construction, cable assembly, tool design and fabrication and plastic injection molding. The company offers outsourcing solutions for the development and manufacture of electronic assemblies and complete devices and systems. 

Baker McKenzie has advised Cicor Group on all legal and tax aspects of the issuance. The team consisted of partner Matthias Courvoisier (capital markets, pictured), Jan Lusti (associate, capital markets) and Andrea Bolliger (of counsel, tax).

Baker McKenzie advises Cicor on reopening of its mandatory convertible bonds

mercedes.galan

Legalcommunity.ch

Launched in 2020 by LC Publishing Group, it is the first digital portal addressed to the Swiss legal market.
In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointments and providing insights, analytical data and opinions on the professions’ main trends and topics (Ai, innovation, etc.).

For further information, please visit the Group’s website www.lcpublishinggroup.com

LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram