Walder Wyss’s longstanding experience in financial transactions places us among the top law firms in Switzerland. We advise banks, other financial companies and borrowers on a wide variety of secured and unsecured credit facilities, ranging from simple bilateral loans to complex syndicated loans, structured financing, and consumer credit.

Walder Wyss also offers high-quality, targeted advisory services for virtually every kind of capital market transaction. Our services extend from traditional securities issues to a range of innovative structured products. Whether you are considering an initial public offering (IPO), a secondary or rights offering, a private investment in public enterprises (PIPE), precisely negotiated high-yield or mezzanine financing, a convertible bond issue, derivative instruments, a newly developed hybrid security or debt restructuring, we can meet the challenges of today’s complex financial market environment.

Thanks to their experience in representing national and international issuers, syndicate banks, and shareholders, our lawyers and tax practitioners have an excellent feel for the needs and interests of all participants in capital market transactions.


Corporate Finance & Capital Markets
Introduction

Walder Wyss’s longstanding experience in financial transactions places us among the top law firms in Switzerland. We advise banks, other financial companies and borrowers on a wide variety of secured and unsecured credit facilities, ranging from simple bilateral loans to complex syndicated loans, structured financing, and consumer credit.

Walder Wyss also offers high-quality, targeted advisory services for virtually every kind of capital market transaction. Our services extend from traditional securities issues to a range of innovative structured products. Whether you are considering an initial public offering (IPO), a secondary or rights offering, a private investment in public enterprises (PIPE), precisely negotiated high-yield or mezzanine financing, a convertible bond issue, derivative instruments, a newly developed hybrid security or debt restructuring, we can meet the challenges of today’s complex financial market environment.

Thanks to their experience in representing national and international issuers, syndicate banks, and shareholders, our lawyers and tax practitioners have an excellent feel for the needs and interests of all participants in capital market transactions.

Experts Products & experience

Our key areas of activity are:

Financing

  • Structured financing
  • Asset-backed financing
  • Property financing
  • Acquisition financing
  • Project finance
  • Trade and commodities finance
  • Leasing
  • Due diligence services for lending banks
  • Structuring and drafting the necessary contractual documentation (such as financing agreements, collateral agreements and term sheets)

Capital Markets

  • Providing structuring advice for IPOs and issues
  • Advising on regulatory issues and representing clients before regulatory authorities
  • Obtaining approvals from supervisory authorities
  • Editing the required contractual documentation
  • Editing prospectuses and applications for admission to the stock exchange
  • Providing support and compliance advice in the post-IPO phase
Publications








Die Finanzierung von Immobilien-Projektentwicklungen durch Anlagestiftungen(Financing of Real Estate Developments by Swiss Investment Foundations)

by André Kuhn
published by Schulthess Juristische Medien AG
Zurich 2018



Fehlregulierung im schweizerischen Offenlegungsrecht? Kritische Beurteilung der melderechtlichen Funktion und Ausgestaltung am Beispiel der Meldepflicht für Derivate(Misregulation in the context of mandatory disclosure of shareholdings under Swiss law? Critical appraisal of the function and legal implementation of mandatory disclosure of shareholdings with a focus on derivatives)

by Christian A. Schmid
in: "Schweizerische Zeitschrift für Gesellschafts- und Kapitalmarktrecht sowie Umstrukturierungen (GesKR)" 2/2018, pp. 194-204


Übernahmerecht(Merger law)

by Peter Sester, Beat Brändli, Oliver Bartholet and Reto Schiltknecht
co-authored by Urs Schenker
in: " St. Galler Handbuch zum Schweizer Finanzmarktrecht: Finanzmarktaufsicht und Finanzmarktinfrastrukturen" 1/2018, pp. 1079-1106


Regulation of collective investment schemes in Switzerland

by Alexander Eichhorn
co-authored by Theodor Härtsch and Maurus Winzap
in: Christian H. Kälin (Hrsg.) (Editor[s]), "Switzerland Business & Investment Handbook"
4th Revised Edition, Sinzheim 2017, p. 742


Selbstregulierung im Finanzmarktrecht. Grundlagen, verwaltungsrechtliche Qualifikationen und rechtsstaatlicher Rahmen(Self-regulation in Financial Market Law. Bases, Administrative Qualifications and Framework of Constitutional Legality)

by Pascal Zysset
in: "Schweizer Schriften zum Finanzmarktrecht, Bd. 124" 2017, pp. 1-442 (Dissertation Bern 2017)










Kommentar zum Finanzmarktinfrastrukturgesetz (FinfraG) (Commentary on the Financial Market Infrastructure Act (FMIA))

by Alex Nikitine and Sarah Schulthess
in: Sethe/Favre/Hess/Kramer/Schott (Editor[s]), "Kommentierung zu Art. 137–141 FinfraG (zum Übernahmerecht)"
Zurich 2017, pp. 1888–1935


Corporate Governance in Sanierungsfälle – Der Einfluss der Gläubiger: Chancen und Risiken

by Urs Schenker
in: Weber/Stoffel/Chenaux/Sethe (Editor[s]), "Aktuelle Herausforderungen des Gesellschafts- und Finanzmarktrechts"
Zurich 2017, pp. 65–91



Die Position von Minderheitsaktionären bei öffentlichen Angeboten(The position of minority shareholders in public bidding)

by Urs Schenker
in: Kunz/Arter/Jörg (Editor[s]), "Entwicklungen im Gesellschaftsrecht XI"
Berne 2016, pp. 161 ff.


Practical Law: Structured finance and securitisation in Switzerland: overview

by Lukas Wyss, Johannes A. Bürgi and Maurus Winzap
in: "Practical Law, Multi-jurisdictional Guide, Structured finance and securitisation"
UK 2016 (www.practicallaw.com)


Squeeze-out of minority shareholders in Swiss companies

by Urs P. Gnos and Thomas Meister
in: ALM Media Properties, LLC. (Editor[s]), "American Lawyer (ALM)"
USA 2016 (www.americanlawyer.com/focuseurope)


Gesellschaftsrecht/Entwicklungen 2015(Corporation Law/Developments 2015)

co-authored by Urs P. Gnos and Dominik Hohler
in: Prof. Dr. Hans-Ueli Vogt (Editor[s]), "njus"
1. Auflage, Berne 2016 (www.njus.ch)




Kommentar zu Art. 492–512 des Schweizerischen Obligationenrechts (Bürgschaftsrecht)(Commentary to Art. 492–512 of the Swiss Code of Obligations (Suretyship Law))

by Markus Vischer
in: Huguenin/Müller-Chen (Editor[s]), "Handkommentar zum Schweizer Privatrecht"
3. Auflage, Zurich/Basel/Geneva 2016, pp. 800–860


Basler Kommentar zu Art. 2, 6, 20–23, 30–32 Kollektivanlagegesetz (KAG)(Commentary to Art. 2, 6, 20–23, 30–32 of the Collective Investment Schemes Act, CISA)

by Markus Pfenninger
co-authored by Martina Nüesch
in: Bösch/Rayroux/Winzeler/Stupp (Editor[s]), "Basler Kommentar zu Kollektivanlagegesetz (KAG)"
2. Auflage, Basel 2016




Unternehmenskauf – Rechtliche und steuerrechtliche Aspekte(Company Acquisition – Legal and Fiscal Aspects)

by Urs Schenker
1. Auflage, Berne 2016


Der Bieterwettbewerb um Starwood(The bidding competition for Starwood)

by Urs Schenker
in: "Gesellschafts- und Kapitalmarktrecht (GesKR)" 4/2016, pp. 485 ff.




Kommentar zu Artikel 8-11, 30 VegüV(Commentary on articles 8-11, 30 VegüV)

by Alex Nikitine
in: Watter/Vogt (Editor[s]), "Basler Kommentar, Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften"
Basel 2015




Kommentar zu Art. 1–4, 26, 28, 29 Abs. 1 und 31 der Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften (VegüV)

by Stefan Knobloch
in: Watter/Vogt (Editor[s]), "Basler Kommentar"
Basel 2015, pp. 3–13, 373–376, 385, 395








Gesellschaftsrecht/Entwicklungen 2014(Corporate law/Developments 2014)

co-authored by Urs P. Gnos and Dominik Hohler
in: Prof. Dr. Hans-Ueli Vogt (Editor[s]), "njus"
1. Auflage, Berne 2015 (www.njus.ch)











Kommentar zu Art. 990–1032 des schweizerischen Obligationenrechts(Commentary to Art. 990–1032 of the Swiss Code of Obligations)

by Elisabeth Moskric
in: Heinrich Honsell (Editor[s]), "Kurzkommentar Obligationenrecht"
Basel 2014


Gesellschaftsrecht/Entwicklungen 2013(Corporation law/Developments 2013)

co-authored by Urs P. Gnos and Dominik Hohler
in: Prof. Dr. Hans-Ueli Vogt (Editor[s]), "njus"
1. Auflage, Bern 2014 (www.njus.ch)






Die Abzugsfähigkeit von DoJ-Bussen für Schweizer Banken im Recht der direkten Bundessteuer und aus steuerharmonisierungsrechtlicher Sicht(The Deductability of Penalties for Swiss Banks under the DoJ-Program from a Direct Federal Income Tax and Tax Harmonisation Law Perspective.)

by Peter Hongler and Fabienne Limacher
in: "Jusletter" 10 February 2014







Der unabhängige Stimmrechtsvertreter in der Verordnung gegen übermässige Vergütungen bei börsenkotierten Aktiengesellschaften (VegüV): Überblick – herausgegriffene Fragen – Lösungsansätze(The independent shareholders' representative (unabhängiger Stimmrechtsvertreter) under the ordinance against excessive compensations at publicly listed corporations («VegüV»): Overview – Select Issues – Approach)

by Alex Nikitine
in: "Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht (SZW)" 5/2013, pp. 351–366






Gesellschaftsrecht/Entwicklungen 2012(Corporation law/Developments 2012)

by Urs P. Gnos and Barbara A. Keiser
co-authored by Dominik Hohler
in: Prof. Dr. Hans-Ueli Vogt (Editor[s]), "njus.ch"
1. Auflage, Berne 2013






Kommentar zu Art. 162 und 163 der Handelsregisterverordnung (Handelsregistersperre)(Commentary on art. 162 and 163 of the Commercial Register Ordinance (Blocking of the Commercial Register))

by Antonio Carbonara
in: "Handelsregisterverordnung (HRegV) – Stämpflis Handkommentar"
Bern 2013, pp. 1445–1501




Online-Crowdfunding – Unterhaltungsindustrie und Start-up-Unternehmen im Umbruch?

by Dirk Spacek
in: "sic!" 2013






Hedge Funds in Switzerland

co-authored by Markus Pfenninger and David Borer
in: Florentino Carreno et al. (Editor[s]), "Hedge Funds, a Practical Global Handbook to the Law and Regulation"
London 2012, pp. 391–372





Ratingagenturen – Haftung für stillschweigende Zusicherung(Rating agencies – liability for implied warranties)

by David Vasella
in: "HAVE – Haftung und Versicherung" 3/2012, pp. 253–268



Hedge Fund Regulierung in der Schweiz und der EU(Hedge fund regulations in Switzerland and the EU)

co-authored by Markus Pfenninger and Nicolas Keller
in: Reutter/Werlen (Editor[s]), "Kapitalmarkttransaktionen VI"
Europa Institut Zürich, Band 115, Zurich 2011, pp. 71–127


Use of Share Purchase Agreements in European Jurisdictions: Switzerland

co-authored by Micha Fankhauser and Alex Nikitine
in: Jaletzke/Henle/Beck (Editor[s]), "M&A Agreements in Germany"
Munich 2011, pp. 348–359





Internationalisierungstendenzen im Finanzmarktrecht(Internationalization Tendencies in Financial Market Law)

co-authored by Thomas Müller and Christian Staub
in: "Schweizerische Zeitschrift für Wirtschafts- und Finanzmarktrecht (SZW)" 1/2011, pp. 20 ff.



Das System zur Durchsetzung von Aktionärsrechten

by Stefan Knobloch
Zurich 2011 (Habilitationsschrift)


Die Haftung von Ratingagenturen – Ein Beitrag zur Expertenhaftung(Rating agency liability)

by David Vasella
Zurich 2011


Disclosure of substantial shareholdings in Switzerland

by Enrico Friz
in: "The Euromoney Equity Capital Markets Handbook"
2011


Buyback of equity and debt securities in Switzerland

co-authored by Markus Pfenninger and Lukas Wyss
in: "PLC Capital Markets 2011"
London 2011




A survey of current regulatory trends – Chapter on Switzerland

by Markus Pfenninger
in: "The International Bar Association's Task Force on the Financial Crisis" October 2010, pp. 117–150



Cross Border Financing: The Basics and the new Landscape

by Thomas Meister
co-authored by Kevin M. Keyes, Stale R. Kristiansen, Kimberly S. Blanchard, Andreas Risi, Patrick Mears and Clemens P. Schindler
in: "Tax Planning Strategies US and Europe"
Copenhagen 2010



Recent Developments of Swiss Disclosure Rules relating to Significant Shareholdings

co-authored by Urs P. Gnos and Lukas Wyss
in: "LexisNexis"
2010






Auf dem Weg zu Basel III(On the Way to Basel III)

by Christian Staub
in: "Schweizer Treuhänder" 2010, pp. 494 ff.



Swiss Disclosure Rules on Significant Shareholdings

co-authored by Urs P. Gnos and Lukas Wyss
in: Center for International Legal Studies (Editor[s]), "The Comparative Law Yearbook of International Business"
Volume 32, Salzburg 2010, pp. 351–386


Investing in Switzerland

Speakers: Martin Busenhart and Marcus Desax
International Taxation Conference
Mumbai 5 December 2009




Switzerland's Takeover Law Significantly Revised

co-authored by Urs P. Gnos and Luc Defferrard
in: "World Securities Law Report" 5/2009 Vol. 15


Switzerland – Recent Developments in Swiss Takeover Law

co-authored by Luc Defferrard, Urs P. Gnos and Andrin Schnydrig
in: "Euromoney Yearbooks: International Mergers & Acquisitions Review"
Colchester 2009


Legal Opinion bei Kapitalmarkttransaktionen(Legal Opinion in Capital Market Transactions)

co-authored by Markus Pfenninger
in: "Kapitalmarkttransaktionen IV"
Zurich 2009






Structured Finance and Securitisation 2009/10: Switzerland

co-authored by Thomas Meister
in: "A multi-jurisdictional guide to structured finance and securitisation"
2009


Swiss real estate financing and refinancing – latest trends and developments

co-authored by Francis Nordmann and Elisabeth Moskric
in: Peter Townshend (Editor[s]), "Euromoney Yearbooks: Real Estate Finance & Investment Review 2009–2010"
2009, pp. 61–63




Quellensteuern bei hypothekarisch gesicherten Kreditverträgen(Withholding tax in respect of credit agreements secured by mortgages)

co-authored by Maurus Winzap and Stefan Oesterhelt
in: "IFF Forum für Steuerrecht (FStR)" 1/2008


Switzerland – Swiss takeover law: Development in the year 2007

co-authored by Luc Defferrard
in: "Euromoney Yearbooks: International Mergers & Acquisitions Review"
Essex 2008


Switzerland – Security over Receivables

co-authored by Markus Pfenninger
in: "Security over Receivables – An International Handbook"
Oxford 2008


An overview of securitisation in Switzerland

co-authored by Thomas Meister, Johannes A. Bürgi and Evan Spangler
in: "Euromoney Yearbooks: Global Securitisation Review 2008/2009"
2008


Konzernfinanzierungstätigkeiten in der Schweiz – Fakten und Steuern(Group Financing Activities in Switzerland – Facts and Taxes)

co-authored by Peter Spori
in: "IFF Forum für Steuerrecht (FStR)" 2008, pp. 249 ff.


Recent developments in Swiss laws and ECM regulations

by Enrico Friz
in: "The Euromoney Equity Capital Markets Handbook"
2008, pp. 75–80


Die aktienrechtliche Organverantwortlichkeit nach Art. 754 Abs. 1 OR als Folge unternehmerischer Fehlentscheide: Konzeption und Ausgestaltung der «Business Judgment Rule» im Gefüge der Corporate Governance(The liability of the Board of Directors and Managers under Article 754 para. 1 CO for business judgements: Concept and structure of the business judgement rule in the Corporate Governance context)

by Alex Nikitine
Zurich 2007 (Dissertation)


Golden Handshakes, Golden Parachutes und ähnliche Vereinbarungen bei M&A-Transaktionen(Golden Handshakes, Golden Parachutes and similar arrangements in M&A transactions)

co-authored by Alex Nikitine
in: Rudolf Tschäni (Editor[s]), "Mergers & Acquisitions IX"
Zurich 2007 (Sonderdruck aus Europa Institut Zürich, Band 79)





Die Haftung des Anwalts gegenüber dritten für eine Third Party Legal Opinion(Liability of attorneys towards non-clients for third party legal opinions)

by Michael Feit
Zurich 2007


Privatautonomie und Vertragsschluss(Party Autonomy and Conclusion of the Contract)

by Antonio Carbonara
in: "Vertrauen – Vertrag – Verantwortung, Festschrift für Hans Caspar von der Crone zum 50. Geburtstag, Zürich 2007"
Zurich 2007, pp. 85–105


Security over Book Debts/Receivables

by Markus Pfenninger
in: "Newsletter Banking Law" May 2006




Die zivilrechtlichen Risiken der Banken in der sanierungsbedürftigen Unternehmung

by Stefan Knobloch
Zurich/St. Gallen 2006 (Dissertation)






Group Support under Swiss Law – a discussion of legal aspects regarding cash pooling

by Christoph Stäubli
in: "International Insolvency Institute" June 2005



Recent developments in Swiss takeover law

by Urs P. Gnos
in: "World Securities Law Report" 4/2005 Vol. 11














Securitisation in Switzerland

co-authored by Johannes A. Bürgi, Markus Kroll and Evan Spangler
in: "Euromoney Yearbooks: Global Securitisation Review" 2003



Statutorische Abwehrmassnahmen gegen Übernahmen, Eine Untersuchung der an der SWX kotierten Schweizer Aktiengesellschaften(Defensive measures against takeovers in the articles of incorporation: An analysis of the Swiss stock companies listed on the SWX)

by Carole Gehrer
in: "Schweizer Schriften zum Handels- und Wirtschaftsrecht" 2003, pp. 225 ff.





Marketing regulations comparison: Switzerland

by Enrico Friz
in: "The Capital Guide to Off-shore Funds"
Hong Kong 1999


Kartellrecht und Banken(Antitrust Law and Banks)

by Roland von Büren
in: "Die Banken im Spannungsfeld zwischen öffentlichem Recht und Privatrecht, Berner Bankrechtstag"
Berne 1999


Die Prospekthaftung im internationalen Privatrecht unter Berücksichtigung des US-amerikanischen, englischen und deutschen Rechts(The Prospectus Liability in International Private Law under Consideration of US, English and German Law)

by Kinga M. Weiss
Bd. 190, Zürich 1999 (Kinga M. Kondorosy-Weiss)


New developments in financing Swiss assets

co-authored by Luc Defferrard
in: "Asset Finance International" September 1998


Recent Developments in the Swiss Securities Market: The establishing of Eurex, the joint derivatives market of the Deutsche Boerse AG and the Swiss Exchange - An Overview

Speakers: Markus Pfenninger
15th Annual Seminar on International Financial Law
Barcelona 10 June 1998


Inkompatibilitäten zwischen Aktien-, Kartell- und Börsenrecht bei Unternehmensübernahmen(Incompatibilities between Corporate, Anti Trust and Stock Exchange Law)

by Roland von Büren
in: "Aktienrecht 1992–1997: Versuch einer Bilanz, Zum 70. Geburtstag von Rolf Bär"
Berne 1997


Market Manipulation and Stabilization in Switzerland

Speakers: Markus Pfenninger
13th Annual Seminar on International Financial Law
Geneva 1 May 1996


Eingriffe des neuen Börsengesetzes ins Aktienrecht(Intervention of the New Stock Exchange Law into Corporate Law)

co-authored by Roland von Büren
in: "Aktuelle Juristische Praxis (AJP)" 4/1996, pp. 391–402


Auslegung von Anleihensbedingungen(An Interpretation of Terms and Conditions of Bonds)

by Markus Pfenninger
Zurich 1995


Business Law Guide to Switzerland

by Marcus Desax
Wiesbaden 1991