Glarner Kantonalbank (GLKB) has successfully placed a CHF 100 million perpetual subordinated Additional Tier 1 bond (issue date 19 March 2018). The coupon until the first call date has been fixed at 2%. Zürcher Kantonalbank and GLKB acted as joint lead managers. The bond qualifies as Additional Tier 1 capital pursuant to the Capital Adequacy Ordinance.
Walder Wyss acted as legal counsel to GLKB with regard to the issuance and placement of the bond. The Walder Wyss team included Lukas Wyss (Partner, Banking Finance), Maurus Winzap (Partner, Tax) and Valentin Wiesner (Associate, Banking Finance).