Basilea Pharmaceutica’s Implementing of Partial Repurchase Offer of Existing Convertible Bonds and Convertible Bonds Offering

Baker McKenzie advised Basilea Pharmaceutica Ltd. on the transaction. Bär & Karrer acted as Swiss legal counsel to Goldman Sachs and UBS in these transactions.

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.

Basilea Pharmaceutica AG operates as a biopharmaceutical company, and focuses on the research, development, and commercialization of products targeting the medical challenge of resistance and non-response to current treatment options for fungal infections, bacterial infections, and cancer.

The Baker McKenzie team was led by Dr. Matthias Courvoisier (Picture) and included Dr. Yves Mauchle, Dr. Philip Spoerlé, Beau Visser, Tanja Schmid (Capital Markets), Hans Koch, Andrea Bolliger (Tax) as well as Adam Farlow and Charles Farnsworth (US Capital Markets).

Bär & Karrer advised Goldman Sachs and UBS in these transactions with a 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).

Involved fees earner: Andrea Bolliger – Baker McKenzie; Matthias Courvoisier – Baker McKenzie; Adam Farlow – Baker McKenzie; Charles Farnsworth – Baker McKenzie; Hans Koch – Baker McKenzie; Yves Mauchle – Baker McKenzie; Tanja Schmid – Baker McKenzie; Philip Spoerlé – Baker McKenzie; Beau Visser – Baker McKenzie; Marvin Perry Kanku – Bär & Karrer; Elena Kumashova – Bär & Karrer; Thomas Reutter – Bär & Karrer; Susanne Schreiber – Bär & Karrer; Roland Truffer – Bär & Karrer; Annette Weber – Bär & Karrer; Fabian Wild – Bär & Karrer;

Law Firms: Baker McKenzie; Bär & Karrer;

Clients: Basilea Pharmaceutica Ltd; Goldman Sachs International; UBS AG;