Credit Suisse SFr525 million 3% bond issue

9/10/2019
Investment grade bond/note issue

SFr 525 million

$ 528.739 million

Completed

9/10/2019


Overview:

  • Investment bank Credit Suisse issued SFr525 million 3% perpetual tier 1 notes. 
  • The dea was the first public issue in the Swiss market to use Swiss benchmark rate SARON, an alternative to LIBOR which is due to be phased out by 2021.
  • The notes pay a fixed coupon rate until 2025, after which the coupon, unless called, will reset at the five year mid-swap rate referencing SARON.

Rajeeb Gurung - Researcher

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