Sunrise Communications: $1.3 Billion Refinancing
Deal News | Feb 18, 2025 | Ropes & Gray
Sunrise Communications AG, a Swiss telecommunications provider, has been advised by Ropes & Gray on issuing $1.3 billion of new Term Loan B debt due in 2032. This financing transaction is Sunrise's first since its spin-off from Liberty Global Ltd. in November 2024. The proceeds from this issuance will be utilized to refinance existing USD and partially EUR Term Loan B debts due in 2029, along with associated fees. Notably, this new debt issuance is structured as a sustainability-linked loan, aligning with Sunrise’s sustainability goals. The advisory team from Ropes & Gray was led by finance partner Alex Robb, with assistance from associates Chad Parkinson and Edward Olsen, and trainee Fizaa Ahmed.
Sectors
- Telecommunications
- Financial Services
Geography
- Switzerland – Sunrise Communications AG is a Swiss telecommunications company.
Industry
- Telecommunications – Sunrise Communications AG operates within the telecommunications industry, providing services and infrastructure.
- Financial Services – The refinancing deal involves financial transactions structured and advised within the realm of corporate finance services.
Financials
- $1,300 million – The amount of the Term Loan B debt issuance structured as a sustainability-linked loan.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Sunrise Communications AG | Target | Company | Swiss telecommunications provider engaging in refinancing efforts. |
| Ropes & Gray | Legal Advisor | Company | International law firm advising Sunrise Communications on the refinancing deal. |
| Liberty Global Ltd. | Former Parent Company | Company | Sunrise Communications spun off from this multinational telecommunications company in November 2024. |
| Alex Robb | Lead Finance Partner | Person | Lead finance partner from Ropes & Gray on the Sunrise refinancing deal. |
| Chad Parkinson | Associate | Person | Associate from Ropes & Gray supporting the refinancing advisory. |
| Edward Olsen | Associate | Person | Associate from Ropes & Gray supporting the refinancing advisory. |
| Fizaa Ahmed | Trainee | Person | Trainee from Ropes & Gray assisting the refinancing advisory. |