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Meyer Burger Technology completed a rights offering as part of a recapitalisation programme on 20 December 2016.
The recapitalisation programme consisted of three pillars: the amendments of the terms and conditions of the outstanding convertible bonds approved in a bondholder meeting (subject to the approval of the High Court of the Canton of Berne); a capital increase by way of a rights offering in the amount of approximately CHF164m (£130m); and the extension and amendments of existing bank credit facilities.
With the completion of the rights offering, the recapitalisation programme was (subject to the approval of the High Court of the Canton of Berne) successfully implemented. Credit Suisse and UBS acted as joint bookrunners and financial advisers.
Bär & Karrer acted as legal adviser to Credit Suisse and UBS for the transaction. The team included Thomas Reutter, Roland Truffer, Daniel Raun, Annette Weber, Silvio Grunder, Michael Schneitter and Matthias Haberstig (all corporate / capital markets) as well as Susanne Schreiber and Cyrill Diefenbacher (both tax).
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