Advestra advises Sandoz on the placement of inaugural bonds in the equivalent of CHF 2.65 bn
Following its spin-off from Novartis on 4 October 2023, Sandoz, a global leader in the generics and biosimilars markets with one of the broadest portfolios in the industry, successfully placed EUR 2.0 billion senior guaranteed bonds in three tranches with maturities of 3 ½, 6 ½ and 10 years (EUR Tranches) and CHF 750 million senior bonds in two tranches with maturities of 3 and 8 years (CHF Tranches). The EUR Tranches were issued by a Dutch subsidiary and guaranteed by Sandoz Group AG, whereas the CHF Tranches were issued by Sandoz Group AG. The proceeds will be used for the repayment of a bridge loan and for general corporate purposes. BNP Paribas, J.P. Morgan and Mizuho acted as joint active bookrunners for the EUR Tranches and BNP Paribas and UBS as Joint Lead Managers for the CHF Tranches.
Advestra acted as Swiss legal counsel to Sandoz. The team included Annette Weber, Thomas Reutter, Fabian Loretan, Silvan Biedermann and Milan Schéda (all Capital Markets) as well as Céline Martin (Tax).