Credit Suisse Group’s $1.65 Billion Perpetual Tier 1 Contingent Write-down Capital Notes Offering

Homburger advised Credit Suisse on the deal.

Credit Suisse Group AG (CSG) priced the issuance of USD 1.65 bn 9.750 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes (the Notes). The Notes are «high trigger» regulatory capital instruments that are eligible to fulfill CSG’s Swiss going concern requirements.

The Notes are governed by Swiss law. Application will be made for definitive admission to trading and listing of the Notes on the SIX Swiss Exchange. The Notes are expected to be issued on, and provisionally admitted to trading on the SIX Swiss Exchange from June 23, 2022.

The Homburger team was co-led by partner Benjamin Leisinger (Picture) and counsel Lee Saladino (both Capital Markets) and included partner Dieter Grünblatt (Tax) as well as associates Andrea Ziswiler and Olivier Baum and paralegal Yulia Shaburnykova (all Capital Markets).

Involved fees earner: Olivier Baum – Homburger; Dieter Grünblatt – Homburger; Benjamin Leisinger – Homburger; Lee Saladino – Homburger; Andrea Ziswiler – Homburger;

Law Firms: Homburger;

Clients: Credit Suisse;

Federica Tiefenthaler

Author: Federica Tiefenthaler