Homburger advised Credit Suisse AG on its registered offering of USD 2 bn aggregate principal amount of floating rate senior notes
On January 30, 2020, Credit Suisse AG (Credit Suisse) launched, and on February 4, 2020 successfully completed, its registered offering of USD 2 bn aggregate principal amount of floating rate senior notes due 2022 (the Notes). The Notes were issued under Credit Suisse’s U.S. medium-term note program and pursuant to its shelf registration statement of file with the U.S. Securities and Exchange Commission.
The floating rate of interest applicable to the Notes, which is reset quarterly, is determined by reference to Compounded Daily SOFR, which is based on the daily Secured Overnight Financing Rate (SOFR), the proposed alternative reference rate to U.S. dollar LIBOR.
Homburger advised Credit Suisse with respect to all aspects of Swiss law. The Homburger team was led by partner René Bösch (Capital Markets) and included partners Benjamin Leisinger (Capital Markets) and Dieter Grünblatt (Tax), as well as counsel Lee Saladino (Capital Markets).