Homburger advised Credit Suisse Group AG on its issuance of USD 1.5 bn 4.500 per cent. Perpetual Tier 1 Contingent Write-down Capital Notes

On December 1, 2020, Credit Suisse Group AG (CSG) launched, and on December 9, 2020, CSG successfully completed, the issuance of USD 1.5 bn 4.500 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, and have been provisionally admitted to trading, and application has been made for trading 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 led by partner Benjamin Leisinger and included partner René Bösch, counsel Lee Saladino, associates Olivier Baum and Andrea Ziswiler (all Capital Markets) and partner Dieter Grünblatt (Tax).