26 April 2017 I Deals and Cases

Bär & Karrer Advises the Banking Syndicate on the CHF 4 Billion Share Capital Increase of Credit Suisse Group

On 25 April 2017, Credit Suisse Group AG announced that it plans to issue new shares in a total amount of CHF 4 billion (excluding the issuance of any new shares from the exercise of rights allotted on shares received as scrip dividend) by way of a rights offering to existing shareholders underwritten by a banking syndicate. The capital increase is subject to shareholder approval in an extraordinary general meeting planned for 18 May 2017. Closing is expected to occur on 8 June 2017.

By this capital increase, Credit Suisse Group intends to strengthen its share capital which will allow it to retain full ownership of Credit Suisse (Schweiz) AG as opposed to pursuing a partial IPO as originally planned.

Bär & Karrer acts as Swiss legal adviser to the banking syndicate in this transaction. The Bär & Karrer team includes Till Spillmann, Andrea Giger, Lars Müller, Adrian Koller, Ivo von Büren and Michael Kaufmann.