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RATING EMITTENTE
Julius Baer Gruppe AG 6,625% Bond | A3LD42 | XS2586873379 | Price
Julius Baer raised €400mn via a PerpNC7 AT1 bond at a yield of 6.625%, 50bp inside initial guidance of 7.125% area. The junior subordinated AT1 notes have expected ratings of Baa3, and received orders over €4.45bn, 11.1x issue size. Proceeds will be used for general corporate purposes. The initial coupon of 6.625% will be fixed until the first reset date on 15 February 2030. If not called, the coupon will reset every five years at 5Y MS+384.7bp. The bonds are callable on 15 August 2028 and any interest payment date thereafter. A write-down trigger event may occur if the CET1 Ratio of the issuer is less than 5.125%.
Ratings
Moody’s bewertet die Bank Julius Bär & Co. AG wie folgt:- Rating für langfristige Einlagen: Aa3
- Rating für kurzfristige Einlagen: Prime-1 (höchstmögliches kurzfristiges Rating)
- Rating für langfristige, nicht nachrangige, ungesicherte Schuldtitel und Emittenten: A2
- Counterparty Risk Assessment: Aa3(cr) für langfristige Verbindlichkeiten, Prime-1(cr) für kurzfristige Verbindlichkeiten
Julius Baer Gruppe AG 6,625% Bond | A3LD42 | XS2586873379 | Price
Julius Baer raised €400mn via a PerpNC7 AT1 bond at a yield of 6.625%, 50bp inside initial guidance of 7.125% area. The junior subordinated AT1 notes have expected ratings of Baa3, and received orders over €4.45bn, 11.1x issue size. Proceeds will be used for general corporate purposes. The initial coupon of 6.625% will be fixed until the first reset date on 15 February 2030. If not called, the coupon will reset every five years at 5Y MS+384.7bp. The bonds are callable on 15 August 2028 and any interest payment date thereafter. A write-down trigger event may occur if the CET1 Ratio of the issuer is less than 5.125%.