Baker McKenzie with Varia US Properties on its CHF 50m bond issuance
Varia US Properties, a Swiss-based real estate company investing exclusively in US multifamily housing with a focus on secondary and tertiary markets, has successful issued a CHF 50 million fixed-rate bond with a coupon of 2.875% and a tenure of four years. This is the second bond issue in the history of the company after it issued the first CHF 50 million fixed-rate bond in June 2019.
The proceeds will be used for further expansion of the portfolio in the US and for investment in the company’s properties, including systematic Environmental, Social, and Governance (ESG) initiatives in order to improve property curb appeal and efficiency.
Bank Vontobel acted as lead manager for the transaction and Fundo as selling agent. Application for listing on SIX Swiss Exchange will be requested and the payment date of the bond is scheduled for 7 October 2021.
Baker McKenzie advised Varia US Properties in this transaction. The Baker McKenzie Switzerland team comprised Matthias Courvoisier (partner, capital markets, pictured left), Yves Mauchle (senior associate, capital markets, pictured center) and Tanja Schmid (associate, capital markets pictured right).
