Homburger advised Credit Suisse Group AG on its issuance of USD 3 bn and EUR 2 bn bail-inable notes

In late March 2020, Credit Suisse Group AG (Credit Suisse) launched the issuance of USD 3 bn 4.194% Fixed Rate/Floating Rate Senior Callable Notes due 2031 under its U.S. Senior Debt Program and the issuance of EUR 2 bn 3.250% Fixed Rate Reset Senior Callable Notes due 2026 under its Euro Medium Term Note (EMTN) Programme. These transactions were consummated on April 1 and April 2, respectively. The Notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern requirement.

The offering of the USD Notes was done in reliance on Rule 144A and Regulation S under the U.S. Securities Act, the EUR Notes under Regulation S. The Notes have been provisionally admitted to trading, and application has been made for admission 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), counsel Lee Saladino and associates Andrea Ziswiler and Olivier Baum (all Capital Markets).