Homburger advises UBS AG in connection with the issuance by Sika AG of CHF 1.3 bn mandatory convertible notes due 2022
On January 8, 2019, Sika AG announced that it made a binding offer to acquire the Parex Group from its current owner CVC Fund V. The Parex Group, headquartered in France, is a leading manufacturer of mortar solutions including facade mortars, tile adhesives, waterproofing, and technical mortars.
The purchase price will be financed by (i) the proceeds from the issuance of the CHF 1.3 bn mandatory convertible notes due 2022 and (ii) a bridge loan. The bridge loan facility has been provided by UBS AG who also acted as sole global coordinator and joint bookrunner for the CHF 1.3 bn mandatory convertible notes due 2022.
UBS AG was advised on this transaction as to Swiss law by Homburger AG. The team was led by partner Daniel Daeniker (Corporate / M&A) and comprised partner Jürg Frick and associate Stefan Bindschedler (both Banking and Finance) for the bridge loan, as well as partner Stefan Oesterhelt (Tax), counsel Eduard De Zordi and associate Andreas Josuran (both Capital Markets) for the mandatory convertible notes.