Homburger advised St.Galler Kantonalbank AG on its issuance of CHF 100 m Additional Tier 1 Notes and CHF 100 m Tier 2 Notes

 

On November 16, 2017 St.Galler Kantonalbank AG (SGKB) launched, and on November 30, 2017 successfully completed, the issuance of CHF 100 m 1.70 per cent. Perpetual Additional Tier 1 Notes and CHF 100 m 1.00 per cent. Tier 2 Notes due 2027 (collectively, the Notes). The Notes are governed by Swiss law, eligible to count towards SGKB's Swiss going concern requirement, and exempted from the Swiss withholding tax regime. They will be listed on the SIX Swiss Exchange. Zürcher Kantonalbank acted as Sole Structuring Advisor and Lead Manager on the transaction.

Homburger advised SGKB with respect to all aspects of Swiss law. The Homburger team was led by partner René Bösch (Financial Services) and included partner Dieter Grünblatt (Tax) and associates Benjamin Leisinger and Andreas Josuran (both Financial Services).