18 December 2012 – Glarner Kantonalbank (GLKB) successfully issued CHF 70 million additional tier 1 subordinated perpetual bonds (issue date 19 December 2012). The coupon was fixed for the first five years and three months at 3.5%. Zürcher Kantonalbank acted as lead manager on this transaction. The bonds qualify as additional tier 1 capital under Capital Adequacy Ordinance (Eigenmittelverordnung) to enter into force on 1 January 2013 which implements the new Basel III framework in Switzerland.

Walder Wyss acted as sole legal counsel to GLKB on the issuance and placement of the bonds. The Walder Wyss team was led by Lukas Wyss (Managing Associate, Banking Finance) and included Maurus Winzap (Partner, Tax), Ramona Wyss (Trainee, Banking Finance) and Peter Hongler (Associate, Tax).