Ropes & Gray Advises Sunrise on €550 Million Senior Secured Notes Offering

Ropes & Gray has advised Sunrise Communications AG (Sunrise), the leading challenger in the Swiss telecommunications market, in connection with the issuance of €550 million aggregate principal amount of Senior Secured Notes due 2032. The proceeds from the offering were used to proactively address near-term debt maturities by refinancing certain of the group’s outstanding term loans, and follows the group’s issuance of $1,300 million of Term Loan B debt due 2032 and related refinancing transactions in February 2025.

The Ropes & Gray team was led by finance partner Rob Haak, with finance associates Mohammed Al Rasheed, Alma Yasin and Anushka Shah, all based in London. The team was also supported on English law matters by finance partner Alex Robb, alongside finance associates Chad Parkinson and Edward Olsen.

Ropes & Gray's London finance team is a leading legal adviser in public and private high yield markets. They are one of a select group of firms with on-the-ground London capability to execute high-yield bond offerings under both English and New York law. This provides clients with cross-border and cross-product expertise with the flexibility and responsiveness of being in the same time zone. Its London finance team is committed to supporting issuers and borrowers in promoting their finance objectives and has a depth of knowledge and experience in this area. In particular, their extensive experience in Rule 144A/Regulation S high-yield debt offerings across industries and geographies ensures rapid execution with a nuanced ability to navigate complex issues.