Julius Baer’s $400 Million Perpetual Tier 1 Subordinated Bonds Offering

Homburger advised Julius Baer Group Ltd on the deal.

Julius Baer Group Ltd. issued USD 400 m Perpetual Tier 1 Subordinated Bonds. Application will be made for the Bonds to be listed on the SIX Swiss Exchange.

The bonds were placed with private banks and institutional investors in Asia and Europe, and Julius Baer said that they will help to optimise its capital structure and provide additional flexibility.

The subordinated bonds carry a coupon of 6.875%, which is payable semi-annually. They have a first reset date on 9 December 2027, and a capital trigger of 5.125% CET1 ratio. They are callable at any point prior to and including the first reset date, or on each interest payment date thereafter. They will be issued in denominations of $200,000, and multiples of $1,000 thereof.

The Homburger team was co-led by partner Benjamin Leisinger (Picture) and counsel Eduard De Zordi (both Capital Markets) and included partner Dieter Grünblatt (Tax) and associate Andrea Ziswiler (Capital Markets).

Involved fees earner: Eduard De Zordi – Homburger; Dieter Grünblatt – Homburger; Benjamin Leisinger – Homburger; Andrea Ziswiler – Homburger;

Law Firms: Homburger;

Clients: Julius Baer;

Federica Tiefenthaler

Author: Federica Tiefenthaler