On 21 December 2021 the Canton of Geneva issued its first social bond by way of private placement in an aggregate amount of CHF 50 million. The issuance was made according to the principles published by the International Capital Market Association. The purpose of the bond is, inter alia, to finance the creation of a new library at the University of Geneva.
Bär & Karrer acted as legal advisor to the Canton of Geneva in this transaction. The team included Frédéric Bétrisey and Vera Waldburger (both Banking).