Homburger advised Credit Suisse Group AG on its issuance of USD 1 bn 5.100 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes
On January 15, 2020, Credit Suisse Group AG (CSG) launched, and on January 24, 2020, CSG successfully completed, the issuance of USD 1 bn 5.100 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes (the Notes). The Notes are “high trigger” regulatory capital instruments that are eligible to fulfill CSG’s Swiss going concern requirements.
The Notes are governed by Swiss law, and have been provisionally admitted to trading, and application has been made for trading and listing of the Notes, on the SIX Swiss Exchange.
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) and paralegal Ganna Schneuwly (Capital Markets).