SBB has received a purported acceleration notice from one of the bondholders under the 2020 and 2021 EMTN programme alleging that SBB is in breach of the EMTN consolidated covenant ratio and claim that their holdings of SBB's bonds are due payable.

The disclosed holdings represent in total approximately EUR 46 million in nominal amount spread across both series of bonds which corresponds to approximately 1 percent of SBB’s total bond loans as of 30 June 2023. As previously stated in the press release on 31 May 2023, SBB firmly rejects that it is in breach of the EMTN consolidated covenant ratio and as such considers that the acceleration notice received from this Eurobond holder is ineffective.

SBB will continue to take all necessary measures to protect its interests and those of its stakeholders and has for some time engaged experienced legal and financial advisors. It is in SBB’s and all stakeholders’ interest that the company continues its transformation and strengthens its financial position without the distraction of vexatious and unsubstantiated claims.