Ratings and
instruments

EFG International

Moody's Fitch

Short term: P1

Short term: F1

Long term: A3

Long term: A

Outlook: stable

Outlook: negative

EFG International

EFG Bank

Moody's Fitch

Short term: P1

Short term: F1

Long term: A1

Long term: A

Outlook: stable

Outlook: negative

EFG Bank

USD Additional Tier 1 Notes

On 18 January 2021, EFG International AG announced the successful placement of USD 400 million of subordinated Basel III compliant Additional Tier 1 notes.

The perpetual notes with a first call option in year 7, issued on 25 January 2021, bear annual interest of 5.50% for the first seven years and thereafter, the aggregate of the 5-yr USD CMT Rate plus 4.659% per annum with a reset every five years. They are subject, among other common features, a high CET 1 trigger leading to a partial or full permanent write-down. The notes are listed on SIX Swiss Exchange.

The proceeds of the issuance were used to fund the offer for the USD Tier 2 Notes and for general corporate purposes.

Bonds specifics

Issuer

EFG International 

ISIN

XS1591573180

Currency

USD

Nominal at issue date

400'000'000

Rank

Subordinated

Coupon

5.00% p.a. - for the first 7 years

First interest payment date

24 March

Issue date

25 January 2021

Maturity

None

First reset

25 January 2028

Bonds specifics

USD Tier 2 Notes

On 29 March 2017, EFG International (Guernsey) Limited announced the successful placement of USD 400 million of subordinated Basel III compliant Tier 2 notes, guaranteed by EFG International on subordinated basis.

The 10 year notes with a call option in year 5, issued on 5 April 2017, bear annual interest of 5.00% for the first five years and thereafter, the aggregate of the 5-yr USD Mid Market Swap Rate plus 2.978% per annum. The notes are listed on SIX Swiss Exchange.

The proceeds of the issuance were used for general corporate purposes.

Bonds specifics

Issuer

EFG International (Guernsey) Ltd

Guarantor

EFG International AG

ISIN

XS1591573180

Currency

USD

Nominal at issue date

400'000'000

Rank

Subordinated

Coupon

5.00% p.a. - for the first 5 years

Issue date

5 April 2017

Maturity

10 years

Reset

5 April 2022

Bonds specifics

Fiduciary Certificates

€400 million of EFG Fiduciary Certificates

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.

Reports submitted to the Luxembourg regulator

Accrue Date Pay Date Preference Dividend Rate Dividend (EUR)

30.10.2020

30.04.2021

0.0000%

0.00

30.04.2020

30.10.2020

0.20400%

1.02

30.10.2019

30.04.2020

0.29000%

1.45

30.04.2019

30.10.2019

0.79100%

3.96

30.10.2018

30.04.2019

1.26700%

6.34

30.04.2018

30.10.2018

1.26200%

6.31

30.10.2017

30.04.2018

1.13800%

5.69

30.04.2017

30.10.2017

0.97300%

4.87

30.10.2016

02.05.2017

0.63400%

3.17

30.04.2016

31.10.2016

0.84900%

4.25

30.10.2015

03.05.2016

1.19700%

5.99

30.04.2015

30.10.2015

0.71200%

3.56

30.10.2014

30.04.2015

1.34900%

6.75

30.04.2014

30.10.2014

2.00500%

10.025

30.10.2013

30.04.2014

2.37600%

11.88

30.04.2013

30.10.2013

1.81500%

9.08

30.10.2012

30.04.2013

2.09600%

10.48

30.04.2012

30.10.2012

2.46200%

12.31

30.10.2011

30.04.2012

2.84000%

14.20

30.04.2011

31.10.2011

3.85800%

19.29

30.10.2010

03.05.2011

3.03500%

15.18

30.04.2010

02.11.2010

3.50000%

17.50

30.10.2009

30.04.2010

3.79500%

18.98

30.04.2009

30.10.2009

3.69700%

18.49

30.10.2008

30.04.2009

4.71600%

23.58

30.04.2008

30.10.2008

4.87600%

24.38

30.10.2007

30.04.2008

4.81600%

24.08

30.04.2007

30.10.2007

4.70500%

23.53

30.10.2006

30.04.2007

4.31500%

21.58

30.04.2006

30.10.2006

4.38600%

21.93

10.11.2005

30.04.2006

3.78800%

17.88

10.11.2005

30.04.2006

3.78800%

17.88

10.11.2004

10.11.2005

6.50000%

65


Tier 1 Preference Dividend Rate based on ISDA 10 year swap fix Plus 0.25%
Rate determined 6 business days in advance.
First Dividend set at 6.5%

 

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Ultime notizie

EFG to sell minority stake in Spanish private bank A&G to the management team

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EFG International publishes the agenda for its Annual General Meeting and announces the closing of the transfer of its Ticino-based retail business

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Ultime notizie

EFG International announces changes to its leadership team

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