Capital Markets

On 11 January 2022, Berner Kantonalbank AG announced the successful placement of CHF 200 m 0.85 per cent. Tier 2 bonds. Zürcher Kantonalbank acted as Structuring Advisor and Lead Manager and Berner Kantonalbank AG acted as Co-Manager. The bonds will be listed on the SIX Swiss Exchange.
Homburger acted as legal transaction counsel. The Homburger team was led by partner Benjamin Leisinger and consisted of counsel Eduard De Zordi and paralegal Ganna Schneuwly (all Capital Markets).

Homburger advises on CHF 200 m Tier 2 bond issuance of Berner Kantonalbank AG

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).

Ganna
Schneuwly

Homburger advises on CHF 200 m Tier 2 bond issuance of Berner Kantonalbank AG

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

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Ganna Schneuwly

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GannaSchneuwly

Homburger advises on CHF 200 m Tier 2 bond issuance of Berner Kantonalbank AG

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

Join the Team

Ganna Schneuwly

Career

Languages

Teams

Ganna
Schneuwly