Homburger with UBS Group on capital notes issuance
Homburger advised UBS Group throughout its issuance of USD 2 bn Tier 1 Capital Notes with an equity conversion feature.
The issuance
UBS completed the offering of two tranches in Tier 1 Capital Notes , respectively of USD 1,250,000,000 at 7.000 % and USD 750,000,000 at 6.600 %.
Governed by Swiss law, admitted to trading, and listed on the SIX Swiss Exchange, the notes in question are «high trigger» regulatory capital instruments: upon occurrence of a «trigger event» or a «viability event», they would be thus converted into ordinary shares of UBS Group.
The Homburger team
Stefan Kramer (pictured left, capital markets) and Benedikt Maurenbrecher (pictured right, capital markets) led the Homburger team on the matter, working alongside Lee Saladino, Olivier Baum (both capital markets), and Stefan Oesterhelt (tax).
