Capital Markets

21-shares_bw

On November 18, 19, and 23, 2021, respectively, 21Shares AG, a Zug-based special purpose issuance vehicle of the fintech group Amun and the Swiss market leader in crypto-linked exchange traded products (ETPs), successfully issued and listed three new series of crypto-linked ETPs on the SIX Swiss Exchange. The first series, 21Shares Polygon ETP (POLY), tracks the investment results of Polygon, an Ethereum scaling platform onboarding millions to Web3. Polygon is said to be the most popular full-stack Ethereum scaling solution due to its high speed, low transaction cost, and network composability. The second series, 21Shares Avalanche ETP (AVAX), is linked to Avalanche, an Ethereum rival, which – by higher transaction output of up to 6’500 transactions per second, while not compromising scalability – tried to replace Ethereum as the most popular blockchain for smart contracts. The third series, 21Shares ETP Algorand (ALGO), has Algorand as an underlying, a layer 1 blockchain solution supporting the creation of decentralized applications. All three underlyings (POLY, AVAX and ALGO) can be used for payments. The products are fully collateralized by the underlying components.
Homburger acted as Swiss legal counsel to 21Shares AG. The Homburger team was led by partner Benjamin Leisinger and included associates Vanessa Isler and Olivier Baum, junior associate Lukas Bichsel as well as paralegal Ganna Schneuwly (all Capital Markets).

Homburger advised 21Shares AG in the listing of three new series of crypto-linked exchange traded products on the SIX Swiss Exchange

Financial Market Regulation

Amag Leasing

In November 2021, AMAG Leasing established its CHF 1.5 bn Auto Covered Bond Programme irrevocably guaranteed as to payments of interest and principal by AMAG Leasing Auto Covered Bond AG (the Programme).
On November 18, 2021, AMAG Leasing successfully completed its inaugural issuance of CHF 260 m 0.00% Fixed Rate Auto Covered Bonds due 2025 thereunder. The Auto Covered Bonds are indirectly backed by a portfolio of lease assets originated by AMAG Leasing (the Cover Pool). AMAG Leasing is the leading car leasing company in Switzerland with a portfolio currently comprising approximately 180,000 contracts valued at more than CHF 4 bn. AMAG Leasing is a subsidiary of AMAG Group, which is the largest mobility company in Switzerland.
The Swiss law governed Programme is the first Corporate Covered Bond Programme in Switzerland. It offers much greater issuance flexibility and quicker «time to market» compared to ABS.
The first issuance of Auto Covered Bond was well received in the market and attracted new investors allowing AMAG Leasing to further diversify its long-term funding sources.
Zürcher Kantonalbank acted as Sole Arranger.
Homburger acted as sole legal advisor advising AMAG Leasing as Issuer and the Zürcher Kantonalbank as Sole Arranger. The Homburger team was led by partners Daniel Haeberli and Stefan Kramer (both Capital Markets / Financial Market Regulation) and included Stefan Oesterhelt (Tax), associates David Borer and Pierina Janett-Seiler as well as junior associates Yannick Rüfenacht and Naomi Mark and paralegal Ganna Schneuwly (all Capital Markets).

Homburger advised AMAG Leasing AG on the establishment of its CHF 1.5 bn Auto Covered Bond Programme and the CHF 260 m inaugural issuance thereunder

The Bonds have been provisionally admitted to trading on the SIX Swiss Exchange on October 25, 2021.
AMAG Leasing AG (ALAG) is a subsidiary of AMAG Group AG, which is the largest mobility company in Switzerland. ALAG has become the leading car leasing company with a portfolio currently comprising approximately 180,000 contracts valued at more than CHF 4 bn.
The Homburger team was led by partner Daniel Haeberli (Capital Markets) and included counsel Eduard De Zordi (Capital Markets) and paralegal Ganna Schneuwly (Capital Markets).

Homburger advised AMAG Leasing AG on the CHF 125 m in aggregate principal amount of 0.21% Bonds 2021–2024 (Tranche A) and CHF 125 m in aggregate principal amount of 0.525% Bonds 2021–2026 (Tranche B)

Ganna
Schneuwly

Homburger advised 21Shares AG in the listing of three new series of crypto-linked exchange traded products on the SIX Swiss Exchange

Homburger advised AMAG Leasing AG on the establishment of its CHF 1.5 bn Auto Covered Bond Programme and the CHF 260 m inaugural issuance thereunder

Homburger advised AMAG Leasing AG on the CHF 125 m in aggregate principal amount of 0.21% Bonds 2021–2024 (Tranche A) and CHF 125 m in aggregate principal amount of 0.525% Bonds 2021–2026 (Tranche B)

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Ganna Schneuwly

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GannaSchneuwly

Homburger advised 21Shares AG in the listing of three new series of crypto-linked exchange traded products on the SIX Swiss Exchange

Homburger advised AMAG Leasing AG on the establishment of its CHF 1.5 bn Auto Covered Bond Programme and the CHF 260 m inaugural issuance thereunder

Homburger advised AMAG Leasing AG on the CHF 125 m in aggregate principal amount of 0.21% Bonds 2021–2024 (Tranche A) and CHF 125 m in aggregate principal amount of 0.525% Bonds 2021–2026 (Tranche B)

Join the Team

Ganna Schneuwly

Career

Languages

Teams

Ganna
Schneuwly