Zurich, 29 September 2020 – Today, Julius Baer Group Ltd. has successfully placed perpetual non-cumulative Additional Tier 1 (AT1) securities in a USD 350 million transaction with private banks and institutional investors in Asia and Europe. The transaction will help to optimise Julius Baer Group’s capital structure and flexibility.
The securities carry a coupon of 4.875%, payable semi-annually, and have a First Reset Date on 8 October 2026 or on each coupon date thereafter. They are also callable any time in the six-month period prior to the First Reset Date. They will be issued in denominations of USD 200,000 and multiples of USD 1,000 thereof.
The instrument has been assigned a Moody’s Baa3 instrument rating. An application has been made for provisional admission to trading on the SIX Swiss Exchange.
The securities are fully compliant with Basel III and qualify as AT1 capital, thus further strengthening the Group’s solid capital levels.