Advestra advises Salt on its high yield bond offering

Advestra advised Salt, a Swiss tele­com­mu­nic­a­tions pro­vider, on its high yield bond offer­ing of CHF 100 mil­lion seni­or secured notes due 2028. The notes were issued by Mat­ter­horn Tele­com S.A. and guar­an­teed by Mat­ter­horn Tele­com Hold­ing S.A. as well as Salt Mobile SA and were priced at 100% of their aggreg­ate prin­cip­al amount and the coupon will be 5.25% per annum. The notes are expec­ted to be pro­vi­sion­ally admit­ted to trad­ing and lis­ted on SIX Swiss Exchange later this year.

The pro­ceeds from the fin­an­cing will be used to redeem Salt’s exist­ing seni­or notes due 2024 and to pay cer­tain fees and expenses in con­nec­tion with the trans­ac­tion. The deal launched on 10 July 2023 and closed on 21 July 2023.

Advestra acted as Swiss leg­al coun­sel to Salt. The team included Sandro Fehl­mann, Thomas Reut­ter, Roland Truffer, Fabi­an Loretan, Valérie Bayard and Samuel Fäh (all Cap­it­al Mar­kets and Fin­ance) as well as Céline Mar­tin (Tax).