NKF with EFG International on bond issuance

Niederer Kraft Frey (NKF) advised Swiss global private banking group EFG International in connection with EFG Bank’s offering and issuance of dual-tranche senior unsecured bonds.

The issuance

EFG Bank successfully closed the issuance of CHF 340 dual-tranche domestic senior unsecured bonds, listed on SIX Swiss Exchange and expected to be included in the domestic segment of the Swiss Bond Index (SBI).

The first tranche amounts CHF 175 million with a 3-year maturity, carrying a fixed annual coupon of 1.13 percent. The second tranche is CHF 165 million with 6-year maturity and a fixed coupon of 1.45 percent.

Deutsche Bank AG London Branch, acting through Deutsche Bank AG Zurich Branch and UBS Investment Bank worked on the transaction as joint lead managers.

The context

This operation follows EFG Bank’s successful inaugural placement and issuance in June 2024 of CHF 370 million dual-tranche senior unsecured bonds, which included a CHF 230 million tranche with a 3-year maturity and a CHF 140 million tranche with a 6-year maturity.

The NKF team

Capital markets partner Daniel Bono (pictured) led the NKF team on the matter, working alongside partner Philippe Weber, senior associate Giulia Ghezzi and associate Manuel Hirlinger (all capital markets).