CapLaw-2012-6

  • Exchange Offer and Issue of Basel III Compliant Bonds with a PONV Write-down Feature by EFG International

    EFG International, a global private banking group headquartered in Zurich with EFG International AG’s registered shares listed on the SIX Swiss Exchange, made an exchange offer to proactively manage and strengthen the quality of its regulatory capital in light of the transition to the Basel III Framework by converting regulatory capital subject to a 10 year phase out into fully Basel III compliant regulatory capital. Both the extraordinary meeting of shareholders of EFG International AG and the meeting of holders of the EFG Fiduciary Certificates have approved the offer on 10 January 2012. In the exchange offer, EFG International invited…

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