Credit Suisse Group has priced the issuance of USD 1.65 bn 9.750 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes. The Notes are «high trigger» regulatory capital instruments that are eligible to fulfill CSG’s Swiss going concern requirements.
The Notes are governed by Swiss law. Application will be made for definitive admission to trading and listing of the Notes on the SIX Swiss Exchange. The Notes are expected to be issued on, and provisionally admitted to trading on the SIX Swiss Exchange from June 23, 2022.
This is in line with the strategy of Credit Suisse group. The group announced a clear focus on strengthening and simplifying its integrated model and investing in sustainable growth while placing risk management at the heart of the bank.
Homburger has advised Credit Suisse with respect to all aspects of Swiss law. The team was co-led by capital markets partner Benjamin Leisinger (pictured left) and counsel Lee Saladino (pictured right) and included partner Dieter Grünblatt (tax) as well as associates Andrea Ziswiler and Olivier Baum and paralegal Yulia Shaburnykova (all capital markets).