Manuel Frei studied Business Administration (International Management) at the FHNW in Olten. An exchange semester in Vietnam and Fribourg (CH) rounded off his studies. He gained work experience by joining UBS as a banker and in reporting at Swiss Re. His passion is basketball and nature in general.
As a senior consultant at pro ressource, he is responsible for clients in various sectors for which he elaborates and implements optimal financing and interest rate hedging structures.
Matthias Lehmann holds a Master of Advanced Studies (MAS) in Banking & Finance from the Zurich University of Economics and Business (HWZ) as well as a Bachelor of Business Administration. After training as a Swiss bank expert, he worked for several years at Credit Suisse, Clariden Leu and Julius Baer in private banking, corporate banking and lending. In his spare time he is regularly on the lake when sailing or at the tennis court.
As a senior consultant at pro ressource, he is responsible for clients in various sectors for which he elaborates and implements optimal financing and interest rate hedging structures. Since 2018 Mr. Lehmann has been a Partner at pro ressource AG.
Raphael Michel has a Bachelor’s degree in Business Economics, with a focus on Banking and Finance. He completed his studies in English at the Zürich University of Applied Sciences. His many years of professional experience include working in Private Banking and Foreign Exchange Trading at UBS AG. During his free time, his passions include curling and fistball. He coaches a team within the Swis National League.
As a senior consultant at pro ressource, he is responsible for clients in various sectors for which he elaborates and implements optimal financing and interest rate hedging structures. Since 2018 Mr. Michel has been a Partner at pro ressource AG.
Jonas Schmid studied finance at Lindenwood University in Saint Louis Missouri and graduated from the University of Lausanne with a Master of Arts degree in Law and Economics. He has experience in the areas of wealth management and management consulting.
As a passionate athlete, he can be found every day either on the sports ground or in the forest while jogging.
André Hummel has been a pro ressource since 2015 and holds the position as a COO. He’s also a senior consultant at pro ressource. He is responsible for clients in various sectors for which he elaborates and implements optimal financing and interest rate hedging structures.
He is particularly responsible for the management of strategic and tactical projects, financial controlling, quality management as well as the management and optimization of internal processes.
André Hummel is a graduate of the Lucerne University of Applied Sciences and Arts and worked for six years at the Neue Aargauer Bank AG in the division management and as a project manager in corporate development. Before he worked at VZ VermögensZentrum AG as an Associate Consultant.
Kevin Pizzirani studied Business Economics at the ZHAW in Winterthur and is now graduating from the same institute with a Master’s degree in Banking & Finance. He gained practical experience at UBS AG and at the Department of Education of the Canton of Zurich.
At pro ressource he is responsible as a consultant for the management of customer projects.
Livia Meier is a trained businesswoman and has graduated in Business Management at the Swiss Institute of Business Economics in Zurich. Livia Meier gathered knowledge in several large media houses and worked previously for a renowned business magazine.
At pro ressource she is responsible as a consultant for the support of customer projects.
Andreas Hauser completed his master’s degree in economics with a specialization in economics at the University of Zurich. Subsequently, he gained professional experience at Credit Suisse (Sales & Trading) and at Raiffeisen (Economic Research). In his spare time, he is active in politics and plays football.
The housing cooperative Goldern in Aarau is currently replacing four of its five existing properties on General Guisan-Strasse with new buildings.
pro ressource, the Goldern housing cooperative supported the overall structuring of the financial planning of the four stages, the financing enquiries and the final preparation/examination of the loan agreements. In addition, pro ressource supported the application for subsidies as well as the financing during and consolidation after the construction phase.
With the financing bank, Fonds de Roulement and the Solidarity Fund Foundation, it was possible to secure attractive financing for the first stage, while at the same time hedging interest rate risks over the long term. In addition, a financing plan was drawn up for the renewal of all four stages. This means that the Goldern housing cooperative is ideally equipped for future projects.
In order to finance the future projects of the Regiowerk, Limeco plans to invest CHF 293 million by 2030.
Together with Limeco, various financing models and interest rate scenarios were evaluated and calculated. Finally, based on various criteria, it has been decided to cover a large part of the financing requirements on the capital market by means of a bond. A loan of CHF 120 million was planned for 8 years.
As Debt Advisor, we were able to successfully place a bond of CHF 120 million on the capital market via Limeco’s lead bank ZKB. The bond has a maturity of 8 years and an interest rate of 0.375%, which corresponds to an investor spread of 13 basis points.
Rebecca Hummel is responsible for the accounting and works in the backoffice at pro ressource.
Kientalerhof AG is a school and training center for complementary therapies and alternative medicine in Kiental BE. An annex building is partially executed with an anthroposophical approach. Kientalerhof AG wants to demolish the existing, old chalet and build this new building in order to adapt to the large and growing demand.
pro ressource analyzed the documents of the Kientalerhof, worked out and found solution options as well as negotiated a financing solution tailored to the needs of the investors.
Through negotiations with various investors, the full financing of the new chalet could be ensured.
“We got access to funding opportunities that we would not have found without the experience and network of pro ressource.”
Théo Bondolfi, President
«With pro ressource we had a Debt Advisor who supported us in every concern and represented our needs towards the capital investors.»
Philippe Scheuzger, CFO
For the new construction project “Agnes”, the borrowing requirements of KSB amount to CHF 360 million. The financing should be largely secured and available as soon as possible.
KSB has issued two public bonds with the two lead banks. Thanks to the different maturities (10 years and 15 years), future refinancing can be tackled in stages and the annual cash flows generated can be invested in rapid debt relief. Due to the high demand on the bond with a term of 10 years, the volume could even be increased to CHF 150 million without increasing the spread. The capital market transaction was thus a complete success.
Many different financing models and interest rate scenarios were calculated and decided on the basis of various criteria to cover a large part of the FK requirement on the capital market by means of two bonds with different maturities. A bond of CHF 100 million was planned for 10 years and a bond of CHF 150 million with a term of 15 years.
The municipality of Yvonand mandates pro ressource AG to refinance an existing tranche of CHF 3 million.
pro ressource negotiates with various financiers taking into account the needs of the municipality of Yvonand.
Thanks to the experience and the broad network of pro ressource, excellent financing conditions have been proposed to the municipality. The refinancing was settled in less than two weeks.
For the projects “Lueg emol” and “Luegeten unterwegs”, Luegeten AG needs full financing and attractive and flexible interest rate hedging.
Pro ressource analyzed the existing documents as well as the loan portfolio of Luegeten AG. Through the negotiations with the investors, the required full financing for the project could be arranged. With the hedging strategy in place, interest rate hedging for the year 2021 could already be completed today.
Through the negotiations with the investors, the full financing for the two projects could be ensured and the costs could be optimized. In addition, interest rates were hedged on a long-term and flexible basis.
“In our search for new and affordable sources of finance, we have used the services of pro ressource to benefit from its long experience and its extensive network. We were not disappointed.” Rolf Würth, Member of the Board of Directors
Alloggi Ticino SA aims to improve the living situation in Ticino. In order to enable the further creation of cost-effective housing, Alloggi Ticino SA must refinance an expiring EGW loan at the most favourable conditions possible.
pro ressource conducts a comprehensive comparison of offers with 8 financial institutions. Subsequently, pro ressource negotiates the conditions in detail with the investors who submitted the most attractive offers.
Thanks to the solution arranged by pro ressource, Alloggi Ticino SA gains planning and cost certainty and can continue to provide affordable housing in the long term.
The Municipality of Corcelles-Cormondrèche has to refinance CHF 13.5 million when it expires. Among other things, it also wants to finance the construction of a new gym and other operations. pro ressource AG is mandated to accompany the Municipality of Corcelles-Cormondrèche during these financings.
To enable the complete financing of the new construction and refinance part of the financing, pro ressource analyses the documentation received, prepares a financing request, contacts many financiers (banks and institutions) and outlines the financing offers obtained. Based on the financial plan and different interest rate scenarios, pro ressource develops different financing structures and compares the positive and negative points of each structure. pro resource’s operations help the Municipal Council to take decisions. After deciding on the financing structure, in the interest of the Commune, pro ressource negotiates certain conditions of the loan with the lenders
Thanks to the work undertaken by pro ressource, the Commune of Corcelles-Cormondrèche was able to finance all its needs with the help of various investors. Based on the best offers obtained, the financing was divided into different tranches. Much of the funding was covered over 10 years.
The oekumenische Verein Generationenhaus Neubad is investing just under CHF 55 million in a new building.
The existing Generationenhaus has gotten old and therefore no longer optimally usable. For this reason, the oekumenische Verein Generationenhaus Neubad wants to create a new building with an extended concept at the current location, which will be extended by one plot. The whole project costs about CHF 55 million. pro ressource was commissioned for the arranging of the debt capital.
The optimal financing solution with low interest margins was negotiated with various parties (banks, pension funds, insurance companies and foundations), taking local partners into account. On the basis of a very advantageous partial financing from the private sector, in addition to a conventional banking products with the executing bank, new and flexible financing products could be developed, In addition, the sponsorship of pro ressource is supported in the implementaion of the financing and teh interest costs can be hedged before borrowing according to current market expectations.
The interest costs was sharply lowered by the negotiations. In addition, the full financing was ensured and a flexible financing was negotiated, so that the oekumenische Verein Generationenhaus Neubad can respond to changing circumstances at any time. The interest conditions have already been set and the interest rates can be hedged long-term, if necessary, so that there are no surprises when using the loan as of 2020. Incidentally, the foundation for long-term cooperation was laid with the Bank through qualitative discussions.
“Thanks to pro ressource – Finanzierungsoptima, we were able to optimize our existing financing, hedge interest rate risks in the long term and reduce financing costs by more than 50%.”
Markus Schales, Director
For the rehabilitation of the existing Alterszentrum Mythenpark as well as for the new Chriesigarten in Arth, the Stiftung Pflegezentren der Gemeinde Arth needed an increase and optimization of their credit limits.
pro resource analyzed the documents as well as the existing credit portfolio. Through the correct communication and declarations of the investments, a lender was found who would finance the current loan on much more favorable terms. Thanks to the negotiated segregation strategy, fixed loans, which expire in 4 years, can already be hedged today and integrated into the hedging concept with a term of 25 years.
By replacing and restructuring the financing as well as having a capital investor who understands the necessity of current investments, the financing margins and fees were significantly reduced.
“Thanks to pro ressource, we can profit from the current negative interest rates and still secure our financing for the long term.”
Jörg Meyer, Director
The Stiftung Berufsbildung Gesundheit planned a new building for CHF 52 Mio. in order to be able to offer the growing amount of new students the best future training opportunities. The canton supports the construction project with a guarantee of CHF 20 Mio.
pro resource negotiated with various lenders from the banking and non-banking sectors to ensure an optimal credit structure with the credit guaranteed by the canton as well as the non-surrendered credit. The final structured financing solution was also explained during negotiations with the canton and integrated into the guarantee contract.
The total interest costs could be significantly reduced. In addition, the interest rate risk on the claimed loan amount was completely eliminated for the next 13 years. Thanks to pro ressource, the Stiftung Berufsbildung Gesundheit can benefit from the negative interest rates and bypass the banks’ 0% floor.
RIGI BAHNEN AG is planning investments of CHF 90 million. This results in a debt capital requirement of CHF 40 million. The amount of borrowed capital was arranged by pro ressource.
Through a change of strategy, RIGI BAHNEN AG developed from a railway company to a tourism company in Rigi. A total of CHF 100 million is going to be invested, with 10 million already being invested. pro ressource arranges the optimal financing soution and secures the interest rate risk in the long term.
pro ressource negotiates with various lenders from the banking and non-banking sector about an optimal financing solution, which was finally achieved in the form of a Club-Deals.
Since the investment costs are heavily dependent on the respective projects, the exact financial requirements are difficult to plan. With the flexibly designed financing solution, RIGI BAHNEN AG can react to the changing circumstances at any time.
The municipality of Yverdon-les-Bains commissioned pro ressource to reduce the financial expenses of an expiring tranche.
pro ressource evaluated the expected interest charges and the risk-bearing capacity of the municipality was able to choose the best short-term financing solution.
Thanks to the cooperation with pro ressource, the short-term financing of CHF 5 mio. was optimized and significant savings in margins were achieved. The new financing strategy fully complies with the wishes and expectations of the municipality of Yverdon-les-Bains.
The hospital Limmattal creates a new building. pro ressource realizes the necessary total financing of CHF 250 million. The hospital benefits from the best conditions and can push the construction project independently of the public authorities.
Spital Limmattal reduces its interest costs by 50%.
The hospital Limmattal has set up a replacement hospital for CHF 270 million for the aging hospital. This will lead to lower operating costs thanks to optimized operating and process sequences. pro ressource develops the optimal financing solution and secures the interest rate risk for the hospital Limmattal in the long term.
pro ressource negotiates with banks, insurance companies, private and public institutions about an optimal financing solution. Our networking in the market helps the hospital Limmattal to achieve a sustainable financing and interest rate hedging structure.
The decision makers of the hospital Limmattal can procure their funding without funds from the public authorities and push ahead the new project. Thanks to a flexible financing solution from pro ressource, the hospital and its owners can always react to changing building and market conditions.
For the renovation of the school as well as the construction of a modern and multifunctional communal hall, the municipality needed a financing in the short term. Offers have already been submitted.
pro ressource analyzes the documents as well as the existing financing cases and negotiates with potential investors an optimal financing solution. Various financing scenarios are calculated and compared. All this information is used as a basis for decision-making on the management of finances and the municipal council. pro ressource finally implements the decisions of the municipality.
pro ressource was able to negotiate a loan contract with a negative interest rate for the municipality. Thanks to our expertise in the interest market, the customer does not pay interest. On the contrary, the municipality of Buchs generates additional income through borrowing.
Jérôme Schmutz studies business administration at the University of St.Gallen. During his Bachelor’s degree, he studied in Argentina and South Korea for one semester each. Alongside, he founded the Tennis Club at the University of St.Gallen. He gained professional experience in his youth as a tennis coach and during his studies at the International Geneva Motor Show.
At pro ressource Jérôme works in the area of financing analysis and modeling as well as supports the customer advisors in all matters.
“Thanks to pro ressource we were able to reduce our financing costs by more than 50%, thus successfully shaping the launch of the Wärmeverbund St. Niklaus.” Reto Gygax, Director
In the municipality of Koppigen, there is an energy question for three parties, the solution of which may be solved in a network. Due to the enormous energy needs of the residential and nursing home of St. Niklaus, the children’s home of Friedau and the Dienstboten asylum, a cooperative was founded on the basis of equal interests. Their purpose is to enable the energy supply for several buildings by means of a common chip heating system with district heating network.
According to an analysis of the portfolio, which was financed by mortgages on an average of eight years at various lenders, pro ressource can confirm the identified potential for optimization by means of a broad-based inquiry with creditors. After evaluating the financing options, the portfolio will gradually be replaced by approximately CHF 50 million mortgages.
The decisive factors for the collaboration with pro resource were received offers, in which the interest rates were well above the market average. As agents with an active interest in the company, we were able to obtain extremely attractive conditions for the cooperative through our large network of capital providers. The difference between the costly interest rate before working with pro ressource on the best offer after commissioning was 1.05% with a maturity of five years
Clinic Barmelweid secures funding over CHF 120 million.
pro ressource implements the desired financing and interest rate hedge for the clinic Barmelweid.
The clinic Barmelweid has shown an extremely high level of utilization for years. For this reason, a new bed-house should provide room for around 100 patients. The declared goal is to adapt the capacities to the demand curve. In addition, the staff houses should be replaced and infrastructure and supply systems should be renewed.
pro ressource works with the client to develop a financing concept tailored to their needs and negotiate with banks, insurance companies and public institutions through an optimal financing solution. Our network in the market helps Barmelweid clinic to achieve a sustainable interest rate hedging structure.
pro ressource arranges total financing of more than CHF 120 million and tailor-made interest rate hedges.
Wir sind stolz, dass wir bereits seit 10 Jahren Ihr Finanzierungsspezialist sein dürfen! Als kleines Dankeschön geben Ihnen unsere Experten in unserem Jubiläumsjahr Insider-Tipps aus 10 Jahren Beratungstätigkeit weiter.
Welche Faktoren bewegen Kapitalgeber zur Darlehensabsage? Immer wieder hören wir von unseren Kunden, dass sie ein erfolgversprechendes Projekt in Planung hatten, dieses aber leider längerfristig mangels Fremdkapital nicht verwirklichen konnten. Obwohl ein solches Projekt sauber geplant und einwandfrei dokumentiert sein mag, scheitert die Suche nach einer passenden Finanzierung oft. Doch wieso ist es so schwierig, zum richtigen Zeitpunkt an den richtigen Kapitalgeber zu gelangen? Dies ist selbst für uns als Experten mit jahrelanger Erfahrung und persönlichem Kontakt zu Kapitalgebern nicht immer ganz einfach zu beantworten. Aus Sicht des Kapitalgebers muss ein Darlehen vor allem ins Kreditbuch passen. Die entscheidenden Kriterien hierbei sind:
Darüber hinaus muss, je nach Kapitalgeber, noch eine Reihe von individuellen, internen Richtlinien und Vorschriften erfüllt werden. Wird ein einzelnes dieser Kriterien nicht erfüllt, wird dem Kreditsuchenden oft ohne detaillierte Begründung abgesagt. Wieso kommt das bei pro ressource kaum vor? Wir haben enge Beziehungen zu diversen Kapitalgebern und unser gesammeltes Wissen aus über 10 Jahren Beratungstätigkeit in eine solide und umfassende Datenbank fliessen lassen. Diese basiert auf sämtlichen, jemals versandten Finanzierungsanfragen, den offerierten Konditionen oder den detaillierten Absagegründen. Dank diesem Fundus und den persönlichen Kontakten schaffen wir es immer wieder, die passenden Parteien zusammenzubringen und aufeinander abzustimmen. So tragen wir viel dazu bei, wichtige Projekte zu verwirklichen.
Die Finanzierung von Fremdkapital ist vergleichbar mit dem Bau eines Hauses. Nimmt man sich die Zeit, ein solides Fundament zu erarbeiten und stabile Wände zu bauen, so resultiert ein robustes, langlebiges Gebäude. Aber wie erhält man nun eine Finanzierung, die alle Anforderungen erfüllt und gleichzeitig die Realisierung des Projektes gewährleistet? Dazu gehört in erster Linie eine saubere Vorbereitung und ein fundiertes Finanzierungsdossier. Auf folgende Punkte sind bei der Erarbeitung des Finanzierungsdossiers zu achten:
Sind diese Punkte erfüllt, steht das Fundament für ein erfolgreiches Projekt. Fordern nun Kapitalgeber Unterlagen ein, so haben Sie diese griffbereit und können sehr schnell reagieren. Dadurch erhalten Sie mehr Angebote von einer grösseren Anzahl Kapitalgeber. Und je mehr Angebote, desto mehr Finanzierungsoptionen und folglich eine grössere Wahrscheinlichkeit für eine bessere, günstigere Finanzierung. Fehlen diese grundlegenden Vorbereitungen, wird das Haus beim ersten Erdbeben zusammenbrechen – es sind keine stabilen Wände eingebaut. Stein um Stein und mit unserer Beratung können wir jedoch zusammen die Wände Ihres neuen Baus hochziehen, bis das Dach solide steht.
Warum die klassische Bankenfinanzierung immer mehr an Bedeutung verliert Bis und mit dem Jahr 2014 wurde 87% unseres Finanzierungsvolumens über klassische Banken finanziert. Im Jahr 2016 waren es noch 38%. Wie kommt diese markante Veränderung zustande? Zum einen wird die Kreditvergabe der Banken durch Basel 3 immer restriktiver. Seit der Finanzkrise 2008 sind die Banken stärker reguliert und müssen höhere Summen an Eigenmittel hinterlegen. Dies bedeutet, dass sie für jeden Franken, den sie an Krediten vergeben, prozentual mehr Eigenmittel hinterlegen müssen. Aus diesem Grund agieren die Banken risikoaverser als noch vor wenigen Jahren. Zusätzlich verteuert der höhere Anteil an Eigenkapital, auf welchem noch immer grosse Rendite-Erwartungen lasten, die Kreditvergabe gegenüber den übrigen Kapitalgebern, wie beispielsweise Pensionskassen. Zum anderen herrscht auf dem Markt ein Anlagenotstand. Durch das Tiefzinsumfeld sind institutionelle Investoren auf der Suche nach Rendite und neuen Anlagemöglichkeiten. Dadurch vergeben Pensionskassen und andere Vorsorgeeinrichtungen vermehrt Unternehmenskredite und Hypotheken um ihr Renditeziel zu erreichen, statt in derzeit teils negative Bundesanleihen zu investieren. Aufgrund der heutigen Marktsituation und den neuen Anbieter auf dem Geld- und Kapitalmarkt ist das Angebot breiter und komplexer geworden. Durch unsere Marktnähe und unser grosses Netzwerk sind wir immer über die neuesten Entwicklungen am Kapitalmarkt informiert und helfen Ihnen gerne dabei, die optimale Finanzierung zu arrangieren.
Welches sind die wichtigsten Punkte, die beim Aufsetzen einer Finanzierung zu beachten sind? Jedes Unternehmen ist anders und hat seine individuellen Bedürfnisse, welche es in einem ersten Schritt zu identifizieren und in Anforderungen an die Finanzierung zu übersetzen gilt. Generell ist es jedoch für jedes Unternehmen wichtig, dass bei der Strukturierung der Finanzierung eine gesamtheitliche Betrachtung vorgenommen wird. Aus einer Auswahl von vielen möglichen Finanzierungsprodukten geht es darum, den optimalen Mix zu finden, welcher die Anforderungen am besten abdeckt. Auf folgende Kriterien sollte bei der Auswahl der passenden Finanzierungsprodukte geachtet werden:
Diese Kriterien sind nicht isoliert zu betrachten, denn sie stehen in einer gegenseitigen Wechselbeziehung zueinander. Es lohnt sich daher, alle Faktoren zu beachten und die Finanzierung als integralen Bestandteil des geschäftlichen Alltages zu betrachten. Eine fein abgestimmte Finanzierung ist für das Unternehmen wie das Öl für den Motor, wobei auch eine regelmässige Wartung zu empfehlen ist. Wir helfen Ihnen gerne, alle Faktoren, welche die optimale Finanzierung beeinflussen, zu berücksichtigen.
Warum eine Finanzierungsanfrage wie eine Jobbewerbung ist Sie haben sich also entschlossen, bei einem Kapitalgeber eine Offerte für Ihre benötigte Finanzierung zu platzieren. Ihre Anfrage wird nun dort ähnlich wie ein Bewerbungsdossier behandelt. Ihre Daten, Unterlagen und Berechnungen werden auf Herz und Nieren geprüft und hinterfragt. Achten Sie deshalb sorgsam auf Vollständigkeit Ihres Kreditdossiers und allerfeinste Qualität bei den eingereichten Unterlagen. Vermeiden Sie es auf jeden Fall, veraltete Dokumente einzureichen oder das Projekt aus falscher Bescheidenheit heraus unter Wert darzustellen. Die Kapitalgeber werden Ihre Unterlagen sowieso zusätzlich einem „Worst-Case Szenario“ unterziehen, um die Tragbarkeit in einem solchen Fall überprüfen zu können. Ein vollständiges und absolut wasserdicht eingereichtes Kreditdossier erleichtert dem Kapitalgeber die Prüfung Ihrer Anfrage und vermittelt gleich von Beginn an die gegebene Seriosität Ihres Projektes. Dies ist nicht zu unterschätzen und kann Ihnen bestenfalls sogar zu einer höheren Kreditlimite und/oder zu einer tieferen Marge verhelfen. Haben Sie Fragen zur Aufbereitung Ihrer Unterlagen oder der Erstellung eines solchen Kreditdossiers? Wir helfen Ihnen gerne dabei!
Der Teufel liegt im Detail. Achten Sie auf das Kleingedruckte. Darlehensverträge sind anspruchsvoll und enthalten viel Kauderwelsch und Juristendeutsch. Fordern Sie vor Abschluss das komplette Vertragsdossier sowie weitere Dokumente wie z.B. Allgemeine Kreditbedingungen und Allgemeine Geschäftsbedingungen an. Stellen Sie sicher, dass Sie jeden einzelnen Punkt verstehen und vergleichen Sie die Bedingungen. Nicht selten sieht eine Finanzierungsofferte auf den ersten Blick sehr attraktiv aus, schränkt den Handlungsspielraum dann aber im Kleingedruckten empfindlich ein. Unsere Erfahrung zeigt, dass ein Darlehensvertrag in den wenigsten Fällen in der ersten Version unterzeichnet werden sollte. Überlegen Sie, was Sie anpassen möchten, priorisieren Sie, entwickeln Sie eine Verhandlungsstrategie und reizen Sie den Verhandlungsspielraum aus – es lohnt sich. Die Verträge beinhalten beispielsweise oft eine Klausel, in welcher sich der Finanzierungspartner das Recht vorbehält, den Vertrag vorzeitig zu künden, sofern die finanzierte Liegenschaft eine substanzielle Wertverminderung erfährt. Dies kann zu einem erheblichen Refinanzierungsrisiko und Mehrkosten führen. Hohe Kosten können ebenfalls bei vorzeitiger Kündigung von Festdarlehen entstehen. Analysieren Sie die Klausel der Vorfälligkeitsentschädigung genau und verlangen Sie eine Beispielsberechnung. Bei Unsicherheiten lohnt sich die Beurteilung durch einen unabhängigen Experten.
Obligation oder Privatplatzierung? Obligationen, auch Anleihen genannt, sowie Privatplatzierungen sind Darlehensformen, welche i.d.R. einen festen oder variablen Zinssatz aufweisen. Diese Darlehensformen unterscheiden sich primär in der Form der Emission und der späteren Handelbarkeit. Während Obligationen öffentlich emittiert werden und danach auf dem Sekundärmarkt gehandelt werden können, wird die Privatplatzierung nicht öffentlich emittiert. Die Privatplatzierung wird einem ausgewählten Kreis von Investoren vorgestellt, welche die Möglichkeit erhalten, in dieser Form ein Darlehen zu sprechen. Diese werden i.d.R von den Investoren über die volle Laufzeit gehalten. Der Vorteil der Privatplatzierung liegt darin, dass relativ schnell und kostengünstig neues Fremdkapital bezogen werden kann. Diese Art der Finanzierung eignet sich für Beträge von CHF 20-50 Mio., da es ab einer gewissen Grösse schwierig werden kann, genügend Investoren zu finden. In diesem Fall, ab CHF 100 Mio., sind öffentliche Obligationen vorzuziehen, da die zu zahlenden Coupons oft tiefer sind, als jene der Privatplatzierung. Bei der Privatplatzierung müssen die Investoren für die Illiquidität des Marktes entschädigt werden, weshalb der Zinssatz oft über demjenigen einer Obligation liegt. Gerade im aktuellen Marktumfeld kann es sich neben der klassischen Bankfinanzierung lohnen, Erkundigungen über die Konditionen von Privatplatzierungen einzuholen. Gerne unterstützten wir Sie dabei, die besten Konditionen am Markt zu realisieren.
Die Planung von Bau- und Investitionsprojekten erfolgt oft nach strukturierten und gut geplanten Prozessen. Projektteams und Kommissionen werden gebildet, um sich um die betrieblichen und baulichen Aspekte zu kümmern. Dabei wird das Thema der Finanzierung oft stiefmütterlich behandelt und als notwendiges Übel am Ende der Prozesskette abgehandelt. Dabei schlummern hier die grössten Einsparungsmöglichkeiten. Ich empfehle, der Finanzierung das nötige Gewicht zu geben und diese sauber zu planen. Dazu gehören:
Gerne stehen wir Ihnen für weitergehende Informationen zur Verfügung und unterstützen Sie mit einem erprobten Pflichtenheft sowie detaillierten Finanzierungsmodellen, die optimale Finanzierung für Ihr Projekt zu strukturieren.
Ob die Zinsen steigen oder fallen, wissen weder wir, Sie, noch die Analysten. Deshalb ist es wichtig, dass man für sich selber eine Zinsmeinung bildet, mit welcher man sich in Anbetracht der eigenen Risikobetrachtung komfortabel fühlt. Statt sich rein auf die Einschätzung von Analysten zu stützen, sollten Sie sich folgendes fragen: Ist die Finanzierung bei einem Zinsanstieg für mich noch tragbar? Bei einfachen Finanzierungen kann diese Frage selber mittels einfachen Szenarien-Berechnungen beantwortet werden (durch Einsetzen von Zinssatz X in Kostenrechnung), bei komplexeren Fällen sollten Sie sich Hilfe von Experten holen. Tipp: Bilden Sie Ihre Zinsmeinung und berücksichtigen Sie Ihre Risikofähigkeit.
Die drei grössten Hindernisse auf dem Weg zu guten Finanzierungskonditionen, wenn kein unabhängiger Berater eingesetzt wird: 1. Blindes Vertrauen zum Verkäufer der Bank – man kennt sich seit Jahren, tschuttet zusammen im lokalen Grümpi und folgt den Empfehlungen des Freundes bei der Bank blind. 2. Mangelnde Zins- und Kreditkenntnisse – die Auswahl an Produkten genauso wie die Anzahl Seiten der Kreditverträge hat enorm zugenommen. Da ist es schwierig, den Überblick zu behalten. 3. Intransparenz – Heute ist die „Bankmarge“ nur noch ein kleiner Teil dessen, was Banken auf Krediten verdienen. Die ganzen versteckten Kosten zu durchschauen, ist für Nichtprofis kaum machbar. Tipp: Vergleichen Sie mehrere Angebote. Hinterfragen Sie bis ins Detail. Holen Sie sich Hilfe von Profis. Das lohnt sich.
Atilla Graffagnini is a learner at pro ressource. He supports the team mainly in the backoffice of customer advice and office management.
Karin Brunner is a trained business clerk with many years of experience in human resources. As an office manager at pro ressource, she is responsible for all organizational and administrative matters. Moreover, as an instructor she manages apprenticeship training and mentoring within pro ressource.
Beside her activity at pro ressouce Karin Brunner is training as a yoga therapist and thus finds her balance to the daily challenges within the office.
The KZU Competence Center for Health Care and Health has successfully implemented follow-up funding for a nursing home construction, supported by pro ressource.
The KZU Competence Center for Care and Health is based on decentralized basic care centers and is one of the largest providers of long-term care in the canton of Zurich. In various stages, four buildings were renovated and CHF 38.5 million invested. After the construction phase, pro ressource financing options were called in with the request to set up long – term financing and interest rate hedging.
pro ressource analyzed the existing financing with regard to optimization options for the KZU Competence Center for Health Care and Health. On this basis, an interest rate hedging and financing strategy was drawn up, as well as credit claims. In close co-ordination with the KZU Competence Center for Care and Health, a solution that meets the needs was selected and implemented by pro ressource.
pro ressource optimizes the existing financing of the KZU Competence Center for Health Care and Health, which significantly reduced interest costs. Interest is also hedged over a 30-year period.
Financing of the new building of the Catholic Church St. Mauritius.
pro ressource secures full funding over the entire term of 16 years.
pro ressource was commissioned to finance the construction of the Catholic church of St. Mauritius for the parishioners of the three municipalities Bonstetten, Stallikon and Wettswil.
In order to enable the full financing of the new building, pro ressource has examined various scenarios and financing alternatives and optimized the borrowing capacity of the church foundation and church community. Subsequently, pro ressource asked about a dozen different lenders, three of which were dealt with in depth. For the optimal implementation and the challenging interest situation, different interest rates were calculated and compared.
Based on the decision-making bases developed by pro ressource, the decision-making committees of the Kirchgemeinde / Kirchenstiftung have finally opted for a financing and interest-rate hedging solution, which includes a tailor-made interest-rate hedging solution and is characterized by its high flexibility in the utilization of borrowed capital. In addition to securing the overall financing, pro ressource of the church community Bonstetten-Wettswil saved considerable interest costs and largely eliminated interest rate risks.
For a building cooperative, pro ressource implements a financing solution that optimally combines the refinancing of an existing portfolio and a simultaneous new financing. The customer saves CHF 780,000.
A building cooperative commissioned pro ressource to find a financing solution for new investments. The existing portfolio is to be checked in the same way.
pro ressource takes all partners of a building cooperative and their interests into account. After optimizing the debt capital ratio of the cooperative, pro ressource speaks with different lenders. In addition, the existing contracts are re-negotiated.
pro ressource generates savings of CHF 780,000 for the customer by seeking and developing not only project-related financing solutions, but solutions in the context of the real estate and financing portfolio.
An architect company is financing CHF 25 million.
pro ressource ensures consolidation and simplification of the financing portfolio.
The architect company owns more than 20 marginal properties and has a large number of financing tranches.
pro ressource negotiates with banks on an optimal financing solution. Our networking in the market helps architects achieve a sustainable interest rate hedging structure.
pro ressource optimizes the financing portfolio and ensures simplicity and transparency.
A municipality saves CHF 620,000 in interest costs.
pro ressource optimizes existing financing and secures financing for future construction projects.
The municipality needs additional debt capital for the construction of old-age housing.
pro ressource negotiates with banks and insurance companies on an optimal financing solution. Our networking in the market helps the municipality achieve a sustainable interest rate hedging structure.
pro ressource optimizes the financing portfolio of the municipality and enables the financing of further investment projects.
Hangenmoos AG is optimizing CHF 40 million in debt capital.
Hangenmoos AG is looking for a CHF 40 million loan for the construction of multi-family houses. In order to be able to guarantee and calculate long-term returns, pro ressource secures interest rates over the long term.
Hangenmoos AG mandates pro ressource to ensure the return on a large-scale construction project with the most suitable financing instruments.
After the optimization of financial planning, pro ressource negotiates with different lenders and accompanies and supports the customer in the relevant decision phases.
Long-term interest rate hedges can have a decisive impact on returns on real estate projects. pro ressource makes the right choice of financing instruments and can secure long-term returns. It provides the best possible financing for the customer.
Cooperative Distelhof fixed interest rates until 2049.
pro ressource arranges an interest rate hedge for the housing association Distelhof in Riehen to the year 2049 to 1.89%.
The housing association Distelhof owns several properties in Riehen, whose financing they want to optimize.
pro ressource negotiates with banks on an optimal financing solution. Our networking in the market helps the Baugenossenschaft Distelhof to achieve a sustainable interest rate hedging structure.
Thanks to the solution arranged by pro ressource, the Baugenossenschaft Distelhof is gaining planning security and can provide sustainable, affordable living space.
„Thanks pro ressource, we were able to save massively on interest costs and conclude a favorable financing in our restructuring project.“ – Christian Lötscher, Treasurer
The cooperative Belforterstrasse in Basel is planning a comprehensive renovation of its properties. The project, estimated at around CHF 27 million, is to be approved by the shareholders’ meeting and financed at the best possible terms. pro ressource was commissioned to hold a short presentation at the shareholders’ meeting and to arrange financing at the best possible conditions.
pro ressource presented the relationships between renting and financing at the extraordinary shareholders’ meeting for the renovation project. Following the acceptance of the project by the members of the cooperative Belforterstrasse, the conditions at the existing investor could be substantially optimized through intensive negotiations. In addition to the reduction of the credit margin to LIBOR and the fixing of favorable interest rates for the long-term interest rate hedging, this optimization also includes the flexibilisation of the construction loan contract. In addition to the bank financing for the rehabilitation, the existing loans were secured by a refinancing of the Emission control center for non-profit residential buildings (EGW) at a very favorable interest rate for 20 years.
Through the negotiations with the existing investor, annual savings of around CHF 270,000 were achieved. Thus, on the one hand, the credit margin on the LIBOR credit as well as the offered interest rate for a fixed-rate library could be massively reduced. On the other hand, the construction credit agreement was negotiated in such a way as to offer the Wohnbaugenossenschaft Belforterstrasse more flexibility.
ACRON AG optimizes the financing of investment properties.
pro ressource secures total financing for two real estate projects with a volume of CHF 31 million.
ACRON AG manages several subsidiaries which hold real estate. Two of these companies face refinancing their existing mortgages. This opportunity is to be used to reduce interest costs.
According to the analysis of the companies and their needs, pro ressource negotiates with various lenders. The available offers are compared and the optimal solution is worked out using model calculations.
Both companies were able to meet the full financing requirements and thus ensure a very attractive return on equity. The reduction in interest costs increases the distribution possibilities as well as the reserve formation of the companies.
The nursing home Gorwiden secures the financing.
pro ressource arranges full financing of all investment plans with a flexible bank loan.
The nursing home Gorwiden has bought land and plans a new building to increase the capacity.
pro ressource negotiates with banks on an optimal financing solution. Our networking in the market helps the nursing home of Gorwiden to achieve a sustainable interest rate hedging structure.
pro ressource ensures total financing of more than CHF 13 million and arranges the interest rate hedging strategy desired by the customer and thus enables the customer to realize the investment plans.
Dielsdorf Health Center saves CHF 6.3 million in interest costs.
pro ressource arranges total financing of more than CHF 44 million.
In order to cover the future needs, the existing health care center in Dielsdorf will be equipped with an additional 80 rooms (120 to 160 beds and suitable for the elderly) for the existing 225 beds.
pro ressource negotiates with banks, insurance companies, private and public institutions about an optimal financing solution. Our network in the market helps the health center Dielsdorf to achieve a sustainable interest rate hedging structure.
pro ressource ensures total financing of CHF 44 million with Libor financing and arranges the interest rate hedge desired by the customer.
Biwog saves CHF 55,000 per year
pro ressource optimizes the existing financing and secures the financing of the new project.
Bieler housing cooperative has a large real estate portfolio and plans the realization of a new construction project.
pro ressource negotiates with banks on an optimal financing solution. Our networking in the market helps biwog achieve a sustainable interest rate hedging structure.
Thanks to the solution arranged by pro ressource, biwog gains in planning security and can provide sustainable, affordable living space.
PDAG is financing a new building for CHF 175 million.
For the project “Total Renovation Psychiatry Königsfelden” of the psychiatric services Aargau AG (PDAG), pro ressource financing options were charged with financing optimization and interest rate hedging.
In order to be able to offer a modern treatment on the Königsfelden site, the psychiatric services Aargau AG (PDAG) plans to renovate the existing buildings and to build new buildings.
pro ressource negotiates with banks, insurance companies, private and public institutions about an optimal financing solution. Our network in the market helps the PDAG to achieve a sustainable interest rate hedging structure.
The psychiatric services Aargau AG (PDAG) has achieved these results with a bond over 8 years, a flexible bank loan as well as a cantonal loan, which can be used as an additional buffer if necessary. In addition to ensuring the overall financing, pro ressource has established the most attractive bond in the Swiss health care market so far and thus saved significant costs for the psychiatric services of Aargau.
Residential and nursing home St. Niklaus saves an annual interest of CHF 250,000.
pro ressource arranges financing for CHF 15.7 million.
The regional residential and nursing home St. Niklaus expands its care offer with the new “Mätteli” building and thus can continue to provide care and care for elderly and dependent persons in the region. pro ressource arranges the optimal financing solution and secures interest rates according to the needs of the regional residential and nursing home St. Niklaus in the long term.
pro ressource negotiates with banks, insurance companies and institutional investors about an optimal financing solution. pro ressources’ networking in the market helps the St. Niklaus region’s residential and nursing home to establish a long-term financing and interest rate hedging structure.
Taking into account the current negative interest rate situation, an interest rate strategy has been developed, which significantly reduces interest costs for the St. Niklaus residential and nursing home. In addition, interest rates are hedged to the needs of the residential and nursing home by the year 2033, with the next Libor rate still benefiting from the low LIBOR rate.
Zentrum Sunnegarte AG realizes financing of more than CHF 40 million.
It is planning the replacement of the nursing home and the expansion of the old apartments. pro ressource procures the financing and develops an interest rate strategy taking into account the current negative interest situation.
Zentrum Sunnegarte AG is planning the replacement of the nursing home and the expansion of the old apartments, since these have structural deficiencies and do not correspond to today’s demands on housing and care in old age.
For the optimal implementation and due to the challenging interest situation over 30 interest scenarios are calculated and compared. After optimizing the company’s debt capital tract, pro ressource negotiates with more than a dozen lenders.
Zentrum Sunnegarte AG benefits from a comprehensive decision-making base. In addition, an interest rate strategy was developed, taking into account the current negative interest rate situation, with which the nursing and retirement home saves significant interest costs. Interest rate hedging is guaranteed until 2034.
GZO AG saves CHF 47 million interest costs.
pro ressource arranges the total financing of health care in Zurich Oberland over CHF 300 million.
Wetzikon Hospital plans to build a new bedding station and renovate its high-rise building, built in 1977, with a total volume of CHF 300 million.
pro ressource negotiates with banks, insurance companies, private and public institutions about an optimal financing solution. Our network in the market helps the health care of Zurich Oberland to achieve a sustainable interest rate hedging structure and to place a public bond over CHF 170 million.
pro ressource ensures total financing of more than CHF 300 million and arranges the interest rate hedging strategy desired by the customer.
Kern Concept AG is a leading provider of medical and dental software in Switzerland. In addition, Kern Concept AG offers innovative IT solutions for drinking water suppliers and infrastructure companies.
In order to finance a large investment project, Kern Concept AG needed substantial financial resources. Despite of its outstanding profitability as well as its substance, this company did not receive a single risk-adjusted offer for financing this investment project from banks, which corresponded to the actual financial strength of the company.
In order to ensure optimal financing, pro ressource financing options were used as an independent financing expert.
pro ressource conducted a comprehensive bid comparison with 24 financial institutions. Subsequently, pro ressource negotiated the conditions with the investors who submitted the most attractive offers.
Only in this way it was possible to secure risk-adjusted interest rates for the investment project at Kern Concept AG. pro resource optimized the existing and the new financing of Kern Concept AG.
Not only the interest rate costs were significantly reduced but also a tailor-made financing solution was found. In addition, the implemented solution ensures a high degree of flexibility.
The cooperative Fab-A secures funding of CHF 5.8 million.
pro ressource ensures optimal financing during and after the construction phase.
The cooperative FAB-A creates a sustainable and exemplary development in the area of Fabrikgässli / Neuengasse in Biel. It is designed for about 40 – 50 children and adults.
pro ressource negotiates with banks, the Association of Swiss Real Estate Developers, and the Emissions Center for Nonprofits for an optimal financing solution.
Thanks to the solution arranged by pro ressource, the cooperative Fab-A gains in planning security during and after the construction phase and can provide sustainable, affordable living space.
The nursing home Sennhof secures interest rate risks for 25 years.
The nursing home Sennhof AG planned an extension with 25 additional beds. In addition, the expiring mortgages had to be renewed.
pro ressource contacted various banks, insurance companies and institutional investors in order to negotiate the best possible conditions for Pflegheim Sennhof AG. Through the experience and networking of pro ressource in the market, a long-term financing and interest rate hedging structure has been achieved.
A sustainable and cost-reducing interest rate strategy has been developed for Pflegheim Sennhof AG. The full financing of the project was ensured, interest rates were fixed over a period of 25 years and substantial margin and fee savings were achieved.
The municipality of Regensdorf switches risks of rising interest rates for 30 years.
pro ressource optimizes the existing financing of the municipality of Regensdorf.
The municipality needs funding for various infrastructure projects such as the Werkhof, an underpass and residential real estate. The municipality of Regensdorf has already requested several offers and would like to find an optimal financing.
pro ressource analyzes the documents as well as the existing financing cases and negotiates with an optimal financing solution. Various financing scenarios are calculated and compared. The events on the financial markets and the impact of the SNB decision are also taken into account. All this information is used as a basis for decision-making on management finances and the municipal council. pro ressource finally implements the decisions of the municipality.
pro ressource secures the financing of various infrastructure projects in the amount of CHF 10 million and also eliminates the risk of rising interest rates for the next 30 years.
Seniorenzentrum Schüpfen halved interest costs
Gemeindeverband Seniorenzentrum Schüpfen is planning to expand its existing retirement home by a nursing division with 10 nursing homes for CHF 16.9 million. In addition, a new building of two buildings with 22 apartments with services and a garage is planned. The municipal association uses the free optimization analysis of financing by pro ressource. Due to the analysis of the planned financing, pro ressource realizes great potential for optimization.
pro ressource elaborates a tailor-made financing strategy together with the municipal association Seniorenzentrum Schüpfen. According to the interest rates workshop, in which different views and thoughts of the municipal council regarding the interest rate course was evaluated, pro ressource modeled the potential interest rate curve over the next 30 years based on the available market data. In the course of the project, the funding was broadly circulated as well as various discussions with banks and institutional investors have been made. After presenting the received offers to Seniorezentrum Schüpfen they decided to spend 10 years on a financing strategy with two investors.
The costs on the fixed 10-year part of the financing were reduced by 50%. The financing on the variable part could be established at an attractive interest rate and allows for a lot of flexibility.
“Our wishes were fully taken into account in pro ressource’s financing proposals. This is how we got together for an optimal solution. “- René Leonhard, President of Siedlungs- und Baugenossenschaft Dübendorf
Siedlungs- und Baugenossenschaft Dübendorf (SBD) would like to check their potential for optimization in the financing and hereby commissioned pro ressource.
pro ressource evaluated the interest rate expectation and risk-bearing capacity of SBD after an analysis of the existing financing. On the basis of this, the SBD was presented with various financing proposals with advantages and disadvantages from which the SBD could select the optimal financing and interest rate hedging strategy.
Thanks to the cooperation with pro ressource, long-term financing has been ensured and substantial savings in fees and margins have been achieved. The new financing and interest rate hedging strategy fully complies with the wishes and expectations of SBD.
pro ressource arranges the financing of leverage to realize the maintenance center in Givisiez. Taking into account a guarantee from the Federal Government, CHF 2.1 million could be saved thanks to the optimal financing structure.
Transports publics fribourgeois Holding (TPF) SA commissioned pro ressource to optimize their loan strategy and to plan a financing solution to ensure the realization of a maintenance center in Givisiez. The maintenance center, together with buildings for the stationing, maintenance, storage, cleaning and repair of the vehicles, also includes an administrative building.
pro ressource was able to increase the attractiveness of TPF’s debt positions by drawing up a financial plan with the management, the financial precursor, the project manager and an accompanying group with representatives from the federal government and the canton.
Subsequently, pro ressource contacted various investors and conducted negotiations with banks, insurance companies, the private sector and public institutions in order to reach the optimal financing solution. Last but no least our network on the financial market were helpful, too. We have secured a long-term interest rate hedge for long-term private placements for TPF.
Thanks to pro ressource, the customer was able to benefit from a reduction in costs of CHF 2.1 million. pro ressource has found the optimal financing solution for the new project, which guarantees long-term interest rate hedging, taking into account the federal guarantee.
Philippe Bösch studied Business Administration at the University of St.Gallen and has now completed his master’s degree in Accounting & Finance at the University of St.Gallen. He has already gained a professional experience at Credit Suisse AG, SIX Group AG in the area of Financial Reporting & Accounting and Ernst & Young AG in Transaction Advisory Services.
At pro ressource he works in the area of financing analysis and modeling and supports the customer advisors in all matters.
Simone Parietti holds a Master of Arts degree in Accounting and Finance and completed his Ph.D. in Finance at the University of Friborg. In addition to teaching as an assistant at the Chair for “Finance et Gouvernance d’Entreprise” with Prof. Dr. Isakov at the University of Friboug, Simone Parietti has gained practical work experience at the Vontobel Bank in Geneva.
At pro ressource he is responsible as a senior consultant for the support of customer projects.
Sebastian Angst joined pro ressource in 2011, became a partner of pro ressource in 2013 and is now responsible for the company’s development and further development. He holds a Master of Advanced Studies (MAS) in Finance from the University of Zurich and a Bachelor of Business Administration.
His experience in finance and the capital market, which he has accumulated at Credit Suisse, enables him to realize the best solutions available. Sebastian Angst distinguishes himself through his persistent focus on customer results as well as his creative solutions.
Cedric Haibucher is a learner at pro ressource. He supports the team mainly in the backoffice of customer advice and office management.