Air Lines AG and Edelweiss Air AG have entered into a CHF 1.5 billion revolving credit facility agreement with Credit Suisse (Schweiz) AG and UBS Switzerland AG as mandated lead arrangers, coordinators and lenders and additional banks as part of a syndicate.
The Swiss Confederation, represented by the Swiss Federal Department of the Environment, Transport, Energy and Communications, acted as surety provider covering 85% of the credit. The financing is linked to certain Swiss location policy measures. Deutsche Lufthansa AG and the German government have agreed to this financing as well.
Bär & Karrer advises Swiss International Air Lines AG and Edelweiss Air AG in this transaction. The team included Ralph Malacrida, Micha Schilling, Faton Aliu and Mischa Zenklusen (all Financing), Rolf Watter (Corporate Governance), Thomas Rohde and Corrado Rampini (both Restructuring), Luca Jagmetti, Raphael Annasohn and Raphael Egger (all Corporate & Commercial), Frédéric Mancosu (Notarial Services), Markus Schott and Raphael Wyss (both Regulatory), as well as Susanne Schreiber, Ruth Bloch-Riemer and Elena Kumashova (all Tax).
Baker McKenzie acted as sole legal advisor to the lenders in all aspects of the transaction. The team was led by partner Lukas Glanzmann (Banking & Finance, Restructuring & Insolvency) and included senior associates Philip Spoerlé (Banking & Finance) and Markus Wolf (Banking & Finance, Restructuring & Insolvency), counsel Andrea Bolliger (Tax) and trainee lawyers Kristina Martinovic (Corporate, Banking & Finance) and Jan Lusti (Corporate, Banking & Finance) from the Zurich office as well as partner Oliver Socher (Banking & Finance) and counsel Silke Fritz (Banking & Finance) from the Frankfurt office.