Luzerner Kantonalbank preps rare Swiss sub deal

By Frank Jackman
16 Apr 2021

Luzerner Kantonalbank has mandated for its first tier two bond in almost a decade, coming ahead of a subordinated debt redemption later this year.

The Swiss firm announced plans on Friday to issue a 10 year non-call eight year tier two deal in Swiss francs, which it will sell through its own investment bank and Zuercher Kantonalbank.

LuKB has one other outstanding deal at this level of subordination: a Sfr175m ...

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