You are here:
25 September 2020 / deal

Loyens & Loeff advised Novartis on the issuance of 1.85 billion euros first healthcare industry sustainability-linked notes

Loyens & Loeff Luxembourg S.à r.l is proud to have assisted Novatis with the issuance of the first healthcare industry sustainability-linked notes and the first incorporating social targets.

healthcare and graphs - novartis deal - Sept 2020

Novartis, a global healthcare company based in Switzerland, reinforced its commitment to environmental social governance and patient access to treatments in developing countries through the issuance of the first healthcare industry sustainability-linked notes. Interest payments will rise annually if Novartis fails to expand access to medicines and to increase by 50% the access to its programmes to combat malaria and leprosy in a number of lower middle income countries in accordance with its 2025 Patient Access Targets.

The offering of the EUR 1.850.000.000 0.000% notes due 2028 was made through the group’s Luxembourg subsidiary, Novartis Finance S.A., guaranteed by Novartis AG and coordinated by Barclays Bank Plc, HSBC Bank Plc, J.P. Morgan Securities Plc and Société Générale as joint lead managers. The notes are expected to be listed in accordance with the Standard for bonds on SIX Swiss Exchange.

Loyens & Loeff acted as Luxembourg legal and tax adviser to Novartis alongside Mayer Brown International (acting as English law advisors) and Bär & Karrer AG (acting as Swiss law advisors). The Loyens & Loeff team was led by capital markets lawyers Cédric Raffoul (Partner) and Sixtine Auguet (associate) with support of Willem Bon (Partner) and Nadège Le Gouellec (Counsel), for the tax and transfer pricing aspects, and of banking and finance lawyer from the Zürich office Judith Raijmakers (Partner).

Business meeting - Flash SCHWM - CAA-Oct2020

CAA 2019 report: the Luxembourg market confirms its strength

The Luxembourg market continued taking advantage from the Brexit and confirmed its international growth. read more
loyens en loeff successful restructuring.jpg

HEMA Group successfully restructured

The restructuring addresses the financial issues that HEMA Group faced and provides the stable platform required to implement the new business plan. read more

Financial Regulatory News Updates - September

The Financial Regulatory News Updates: an overview in which our Banking and Finance Practice Group highlights. read more