Homburger advised Credit Suisse Group AG on the issuance of USD 305 m bail-in-able (TLAC) notes under its Senior Debt Issuance Program, the first TLAC instruments issued by a Swiss issuer to be listed on the Taipei Exchange
On March 15, 2018 Credit Suisse Group AG (Credit Suisse) launched, and on March 29, 2018 successfully completed, the issuance of USD 305 m Zero Coupon Accreting Senior Callable Notes due 2048 (the Notes) under its Senior Debt Issuance Program.
The Notes are the first TLAC instruments issued by a Swiss issuer to be listed on the Taipei Exchange in Taiwan. In addition, the Notes have been admitted to trading, and application has also been made for a listing of the Notes, on the SIX Swiss Exchange. The Notes are governed by Swiss law, eligible to count towards the Swiss gone concern requirements of Credit Suisse and exempted from the Swiss withholding tax regime.
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 and associate Andrea Ziswiler (both Capital Markets).