21 November 2023 – Following its spin-off from Novartis on 4 October 2023, Sandoz, a global leader in the generics and biosimilars markets successfully placed EUR 2.0 billion senior guaranteed Eurobonds. The Eurobonds are issued in three tranches with EUR 700 million 3.97% bonds due 2027, EUR 700 million 4.22% bonds due 2030 and EUR 600 million 4.50% bonds due 2033. The Eurobonds are issued by Sandoz Finance B.V. and guaranteed by Sandoz Group AG (SIX: SDZ). BNP Paribas, J.P. Morgan and Mizuho acted as Joint Active Bookrunners.

Walder Wyss acted as counsel to BNP Paribas, J.P. Morgan and Mizuho. The team was led by David Borer (Partner, Capital Markets) and included Thomas Müller (Partner, Capital Markets), Maurus Winzap (Partner, Tax), Elisabeth Moskric (Counsel, Capital Markets), Christian A. Schmid (Associate, Capital Markets) and Solveig Schurti (Trainee, Capital Markets).