GHR Rechtsanwälte AG advised CEMEX in connection with the successful extension of its Facilities Agreement
GHR Rechtsanwälte AG advised CEMEX, S.A.B. de C.V. (NYSE: CX), the global building materials company, as to Swiss law on the amendment process under its July 2017 Facilities Agreement with several financial institutions which successfully closed in October 2020. As part of this amendment process, CEMEX extended approximately US$1.1 billion of term loan maturities by 3 years, from 2022 to 2025, and approximately US$1.1 billion of commitments under the revolving credit facility by one year, from 2022 to 2023. In addition, CEMEX will prepay about US$530 million corresponding to the July 2021 amortization under the Facilities Agreement to those institutions participating in the extension.
Marc Grüninger re-elected as Chairman of Lawyers Associated Worldwide
We are happy to announce that GHR Rechtsanwälte partner Marc Grüninger was re-elected as Chairman of Lawyers Associated Worldwide (www.lawyersworldwide.com) for another two-year term at LAW's Annual General Meeting which was held virtually on 22 and 23 October 2020.
Switzerland: Gender guidelines and transparency rules in the extractive industries sector
Switzerland: Gender guidelines and transparency rules in the extractive industries sector
From January 1, 2021, more women are to be elected to executive management (20 %) and boards of directors (30 %) in large, listed companies. Furthermore, from the new year, stricter transparency regulations are to apply to companies in the extractive industries sector. They will be required to disclose in a written report payments of at least CHF 100,000 to government bodies.
GHR Rechtsanwälte advised on the restructuring of HPW Group
The restructuring of HPW Group was completed in October 2020. GHR advised the Group's parent company, HPW AG, and its shareholders in relation to corporate and tax law matters.
Extension of COVID-19 Regulation 3 until 31st December 2021
By decision of the Federal Council of 18th September 2020, COVID-19 Regulation 3 was extended until 31st December 2021. This means that meetings of companies (e.g. general meetings) can continue to be held in writing, in electronic form or by an independent proxy until the end of 2021 (Art. 27 COVID-19 Regulation 3).
New Associates with GHR Rechtsanwälte AG
We are happy to announce the new hires of Jil Suter and Yves Sommer.
GHR advises CEMEX in $1.00 Billion Offering of Senior Secured Notes
GHR Rechtsanwälte represented CEMEX, S.A.B. de C.V. (NYSE: CX), the global building materials company, in a U.S.$1. billion aggregate principal amount offering of Senior Secured Notes. The Notes are denominated in U.S. Dollars and bear interest semi-annually at an annual rate of 5.200%. They mature on September 17, 2030.
Marc Grüninger recommended by Best Lawyers Switzerland 2021 for M&A
Marc Grüninger has again been recognized by his peers among Switzerland's best lawyers for Mergers and Acquisition Law and has been selected for inclusion in the 11th Edition of The Best Lawyers in Switzerland.
Price collapse on the electricity market: lower electricity bill?
Price collapse on the electricity market: lower electricity bill?
During the lockdown, the price of electricity on the stock exchanges fell drastically, sometimes below zero. With this newsletter we are looking into the question why customers do not automatically benefit from a price decline and what this depends on.
