Glarner Kantonalbank places CHF 150m Tier 2 Bonds. The advisors

Glarner Kantonalbank (GLKB) has successfully placed a CHF 150 million Tier 2 bond. The coupon has been fixed at 1.00% with an issue price of 100.353%. It is a 10-year bond with a one-time termination option by GLKB after 5 years.

Walder Wyss acted as transaction counsel with regard to the placement of the bonds. The team included Lukas Wyss (partner, banking finance, pictured), Roger Ammann (managing associate, banking finance), Maurus Winzap (partner, tax) and Natascha Rizzi (associate, tax).

Zürcher Kantonalbank acted as Sole Structuring Advisor and Sole Bookrunner and Glarner Kantonalbank as Co-Manager. The bonds qualify as Tier 2 capital instruments pursuant to the Swiss Capital Adequacy Ordinance.