Glarner Kantonalbank places CHF 150m Tier 2 Bonds
29 June 2021 – Glarner Kantonalbank (GLKB) has successfully placed a CHF 150 million Tier 2 bond. The coupon has been fixed at 1.00% with an issue price of 100.353%. Zürcher Kantonalbank acted as Sole Structuring Advisor and Sole Bookrunner and Glarner Kantonalbank as Co-Manager. The bonds qualify as Tier 2 capital instruments pursuant to the Swiss Capital Adequacy Ordinance.
Walder Wyss acted as transaction counsel with regard to the placement of the bonds. The Walder Wyss team included Lukas Wyss (Partner, Banking Finance), Roger Ammann (Managing Associate, Banking Finance), Maurus Winzap (Partner, Tax) and Natascha Rizzi (Associate, Tax).