Homburger advised Credit Suisse (Schweiz) AG on the establishment of its Covered Bond Programme and the CHF 250 m Inaugural Issuance thereunder
In June 2019, Credit Suisse (Schweiz) AG (Credit Suisse Schweiz) established its CHF 20 bn Covered Bond Programme irrevocably guaranteed as to payments of interest and principal by Credit Suisse (Schweiz) Hypotheken AG (the Programme), and on July 16, 2019, Credit Suisse Schweiz successfully completed its inaugural issuance of CHF 250 m 0.000% Fixed Rate Covered Bonds due 2029 thereunder. The Covered Bonds are indirectly backed by a portfolio of domestic mortgages originated by Credit Suisse Schweiz.
The Programme is the first Swiss law governed structured Covered Bond Programme of a Swiss G-SIB and it allows Credit Suisse Schweiz to further diversify its long-term funding sources.
Homburger advised Credit Suisse (Schweiz) AG as Issuer. The Homburger team was led by partner Stefan Kramer (Financial Market Regulation / Capital Markets) and included partners Benjamin Leisinger (Financial Market Regulation / Capital Markets) and Dieter Grünblatt (Tax) as well as associate David Borer (Financial Market Regulation).