Homburger advised Credit Suisse Group AG on its issuance of USD 6.25 bn notes
On August 8, 2022, Credit Suisse Group AG launched and successfully priced the issuance of USD 1.5 bn 6.373% Fixed Rate/Floating Rate Senior Callable Notes due 2026, USD 1.75 bn 6.442% Fixed Rate/Floating Rate Senior Callable Notes due 2028, and USD 3 bn 6.537% Fixed Rate/Floating Rate Senior Callable Notes due 2033 under its U.S. Senior Debt Program. The 2026, 2028 and 2033 Notes are bail-inable bonds that are eligible to count towards Credit Suisse’s Swiss gone concern requirement. Closing is expected to occur on August 12, 2022.
The offering of the Notes was done in reliance on Rule 144A and Regulation S under the U.S. Securities Act. 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 co-led by partner Benjamin Leisinger and counsel Lee Saladino and included associate Sofiya Shavlak (all Capital Markets) as well as partner Dieter Grünblatt (Tax).