ZKB to price landmark Basel III-compliant T1 perp

18 Jan 2012

Zürcher Kantonalbank is in the Swiss franc market with the first ever Basel III-compliant tier-one subordinated bond — a perpetual 3.5% non-call 5-1/2 year.

Swiss regulator Finma’s independence from Basel III timings allows Swiss financial institutions to display a precocious approach to bank finance. Banks in EU jurisdictions are still waiting for final Basel III regulations before they can issue this type of security.

This trade will help ZKB build its equity base ...

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