ZURICH: Julius Baer Group has successfully placed perpetual non-cumulative Additional Tier 1 (AT1) securities in a $350 million transaction with private banks and institutional investors in Asia and Europe, a news release said.
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 October2026 or on each coupon date thereafter.
They are also callable anytime in the six-month period prior to the First Reset Date. They will be issued in denominations of USD200,000 and multiples of USD1,000 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.
Julius Baer is the leading Swiss wealth management group and a premium brand in this global sector, with a focus on servicing and advising sophisticated private clients. At the end of June 2020, assets under management amounted to CHF 402 billion. Bank Julius Baer & Co. Ltd., the renowned Swiss private bank with origins dating back to 1890, is the principal operating company of Julius Baer Group Ltd., whose shares are listed on the SIX Swiss Exchange (ticker symbol: BAER) and are included in the Swiss Leader Index (SLI), comprising the 30 largest and most liquid Swiss stocks.
Julius Baer is present in over 20 countries and more than 50 locations. Headquartered in Zurich, we have offices in key locations including Dubai, Frankfurt, Geneva, Hong Kong, London, Luxembourg, Mexico City, Milan, Monaco, Montevideo, Moscow, Mumbai, São Paulo, Singapore and Tokyo. Our client-centric approach, our objective advice based on the Julius Baer open product platform, our solid financial base and our entrepreneurial management culture make us the international reference in wealth management. www.juliusbaer.com