Homburger advised Credit Suisse Group AG on its issuance of USD 2 bn bail-inable (TLAC) notes under its U.S. Senior Debt Program
On June 6, 2018, Credit Suisse Group AG (Credit Suisse) launched, and on June 12, 2018 successfully completed, the issuance of USD 1.25 bn 4.207% Fixed Rate/Floating Rate Senior Callable Notes due 2024 and USD 750 m Floating Rate Senior Callable Notes due 2024 (collectively, the Notes) under its U.S. Senior Debt Program. The Notes are governed by Swiss law, eligible to count towards Credit Suisse’s Swiss gone concern requirement and exempted from the Swiss withholding tax regime. 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 admitted to trading, and application has been made for a 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 associate Andreas Josuran (Capital Markets).