EFG gets in shape for Basel III with perp buyback
Swiss private bank EFG International has opened a buyback of a perpetual instrument as it prepares for Basel III rules coming into effect next year.
The bank is offering to buy back the note, of which 265m remains outstanding, at 60% of par for early participants. Late participants are offered 59% of par. Investors that participate will also be consenting to a change in the terms of the security that will make it
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