Homburger with the city of Zurich on issuance of CHF 150 mln senior bonds

The City of Zurich successfully issued CHF 150 million 0.00% senior bonds due 2030. The issuance is documented in a prospectus that is fully compliant with the Financial Services Act.

Homburger acted as transaction counsel with respect to all matters of Swiss law. The team was led by partner Benjamin Leisinger (pictured) and included associate Sofiya Shavlak and junior associate Yannick Rüfenacht as well as paralegal Ganna Schneuwly (all Capital Markets).

In connection with the offering, the Swiss Review Body issued a general exemption for the City of Zurich from the duty to prepare interim financial statements based upon, amongst others, the City of Zurich’s nature as a Swiss political municipality and its applicable accounting standard.

The bonds were placed and underwritten by Credit Suisse, Raiffeisen Schweiz Genossenschaft, UBS and Zürcher Kantonalbank.