CapLaw-2012-7

  • ZKB issues CHF 590,000,000 3.50% Tier 1 Perpetual Subordinated Bonds

    On 18 January 2012, Zürcher Kantonalbank (ZKB) launched a CHF 590m 3.50% Tier 1 Perpetual Subordinated Bonds transaction in the Swiss market, placed through UBS AG and ZKB as Joint-Lead Managers. These Tier 1 Perpetual Subordinated Bonds are a novel instrument, in particular providing for a write-down if ZKB’s CET 1 capital falls below 7%…

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