Homburger with UBS Group on capital notes issuance
Homburger advised UBS Group on its issuance of AUD 1.25 bn Tier 1 capital notes with an equity conversion feature.
The issuance
The notes are ‘high-trigger’ regulatory capital instruments that count toward UBS Group’s Swiss going-concern capital requirements. If a “trigger event” or “viability event” occurs, the notes automatically convert into ordinary shares of UBS Group. They are issued under Swiss law and trade on the SIX Swiss Exchange.
The Homburger team
Benedikt Maurenbrecher (pictured right) and Stefan Kramer (pictured left, both capital markets) led the Homburger team on the matter. The lineup further included Lee Saladino and Olivier Baum (both capital markets) as well as Stefan Oesterhelt (tax)
