Led by Frankfurt partner Michael Schlitt, international law firm Hogan Lovells has advised va-Q-tec AG in connection with the placement of a non-subordinated, unsecured bond with a term of five years and an aggregate principal amount of CHF 25 million. The placement was completed early due to the great interest of investors.

The coupon of the bond was set at 3¾ percent per annum. The company plans to use the net proceeds from the bond for further investments in the container and box fleets, for the refinancing of existing liabilities, and for general financing purposes.

The payment of the bond and its provisional admission to official quotation on the SIX Swiss Exchange AG will occur on 30 November 2020. Helvetische Bank AG acted as lead manager and firm underwriter of the bond. 

va-Q-tec is a pioneer for highly efficient products and solutions in the area of thermal insulation (so-called “super thermal insulation”) and temperature-controlled supply chains (so-called TempChain logistics). Recently, the Company has entered into a comprehensive agreement in connection with the progress in the development of CoVid-19 vaccines, as many of the vaccines require constant temperatures down to -70 degrees Celsius during transportation.

• Prof. Dr. Michael Schlitt (Partner), Dr. Susanne Ries (Of Counsel), Mark Devlin (Counsel), Dr. Timo Lockemann, Christian Schröder (Associates), Eva-Christina Sommer, Simona Gradišek (Business Lawyers), Christian Knoth (all Corporate and Capital Markets, Frankfurt);
• Dr. Heiko Gemmel (Partner), Anne-Svenja de Kiff (Senior Associate) (all Tax, Dusseldorf);
• Thomas Weber (Counsel, Corporate, Munich).
• Inhouse Law (va-Q-tec AG): Melanie Losert.