Homburger | View firm profile
On February 19, 2025, Julius Baer Group Ltd. successfully issued USD 400 m of 7.5% Perpetual Tier 1 Subordinated Contingent Convertible Bonds (Tier 1 CoCos).
The Tier 1 CoCos and all transaction documents are governed by Swiss law. If a trigger event occurs and is continuing on the relevant subsequent trigger test date or if a viability event has occurred, a contingent conversion of the Tier 1 CoCos will occur on the relevant conversion settlement date into shares of Julius Baer Group Ltd. issued out of its conversion capital introduced by the shareholders at the occasion of the annual shareholders meeting in 2024. The Tier 1 CoCos feature a denomination of USD 200k each. The Tier 1 CoCos have been provisionally admitted to trading, and application has been made for definitive admission to trading and listing, on the SIX Swiss Exchange.
Homburger advised Julius Baer Group Ltd. with respect to all regulatory, transactional and tax aspects of Swiss law. The Homburger team was co-led by Benjamin Leisinger (Capital Markets, Financial Market Regulation) and Eduard De Zordi (Capital Markets), and included Yulia Shaburnykova (Capital Markets), as well as Dieter Grünblatt (Tax) and Claude Lambert (Corporate / M&A).