Placement of CHF 1,650 million senior convertible bonds by Sika AG to refinance acquisition of its own shares from Compagnie de Saint-Gobain

On 15 May 2018, Sika AG successfully completed the placement of CHF 1,650 million senior convertible bonds due 2025 to be listed on the SIX Swiss Exchange, with UBS as sole global coordinator. The convertible bonds were provisionally allocated to investors participating in an institutional book building. The allocation is subject to claw back by existing shareholders who may exercise their subscription rights. Sika intends to use the net proceeds from the offering mainly to refinance the recently announced acquisition of its own shares from Compagnie de Saint‐Gobain. The offering closed on 5 June 2018.

Lenz & Staehelin is advising Sika on this convertible bond issue. The team includes partners Patrick Schleiffer (Capital Markets) and Pascal Hinny (Tax) as well as associates Patrick Schärli (Capital Markets), Ramona von Riedmatten (Capital Markets) and Stefan Brandner (Tax). This team forms part of the larger team which has been advising Sika for the last 3.5 years during the takeover battle with Saint-Gobain.