400 millions € de certificats fiduciaires EFG
In November 2004 and January 2005, EFG Bank issued Tier I qualifying Bons de Participation in EFG Bank and Class B shares in EFG Finance (Guernsey) Limited for a total of €400 million.
The Bons de Participation and the Class B Shares entitle their holders to a preferential dividend of 6.50% for the first year and there after the lesser of (i) the aggregate of the 10-yr EUR Swap Rate plus 0.25% per annum and (ii) 8% per annum, each calculated for a semi-annual period.
The Bons de Participation and the Class B Shares are held on a fiduciary basis by a fiduciary which issued EFG Fiduciary Certificates to finance the purchase of both securities. The EFG Fiduciary Certificates (ISIN: XS0204324890) are listed on the Luxembourg Stock Exchange.
In accordance with the reorganisation of EFG Bank which was pre-cleared by the Swiss Federal Banking Commission on 27th June, 2005 and which was in turn approved on 29th June, 2005 by the board of directors of the Bank, the reorganisation became effective on the 8th September 2005. The Fiduciary has New Bons de Participation in EFG International, these new Bons de participation, issued by EFG International have identical terms to those originally issued by EFG Bank.