Bär & Karrer Advised Goldman Sachs and UBS on the Placement of new Convertible Bonds and the Public Repurchase Offer for Existing Convertible Bonds by Basilea Pharmaceutica Ltd

On 28 July 2020, Basilea Pharmaceutica completed the offering of approximately CHF 97 million 3.25% convertible bonds due 2027 to finance the repurchase of a part of Basilea's existing convertible bonds due 2022. With the repurchase of part of its existing bonds financed by newly issued bonds, Basilea was able to extend its debt maturity profile and to optimize its debt structure. The reference price for the conversion price of the new convertible bonds was set by the placement of shares in Basilea.

Goldman Sachs International and UBS AG acted as Joint Global Coordinators in the placement of the new convertible bonds and as dealer managers in the public repurchase offer of the existing convertible bonds.

Bär & Karrer acted as Swiss legal counsel to Goldman Sachs and UBS in these transactions. The team included Thomas U. Reutter, Roland Truffer, Annette Weber, Marvin Kanku and Fabian Wild (all Capital Markets) as well as Susanne Schreiber and Elena Kumashova (both Tax).