Julius Baer Group Places USD Perpetual Tier 1 Subordinated Bonds

On February 11, 2025, Julius Baer Group Ltd. successfully placed perpetual non-cumulative Additional Tier 1 (AT1) securities. The transaction involved USD 400 million and attracted private banks and institutional investors in Europe and Asia. The funds will be used for general corporate purposes.

The bonds have a 7.500% coupon, payable semi-annually, with a first reset date set for February 19, 2031. A principal loss absorption mechanism allows equity conversion upon a 5.125% CET1 capital ratio trigger. The bonds are callable within six months of the first reset date or on any subsequent interest payment date. They come in denominations of USD 200,000 and hold a Moody’s Ba1 (hyb) rating. Application for provisional trading on the SIX Swiss Exchange will be made.