07 December 2015 I Deals and Cases

Bär & Karrer Advises the Underwriters on the CHF 4.7 Billion Rights Offering by Credit Suisse Group AG

Credit Suisse Group AG successfully completed its right offering by issuing 260,983,898 new registered shares generating gross proceeds of CHF 4.7 billion. Credit Suisse acted as Global Coordinator (no firm underwriting). The banking syndicate was led by Citigroup, HSBC Bank plc and Société Générale Corporate & Investment Banking that acted as Joint Lead Managers and Joint Bookrunners. The further members of the banking syndicate were Banca IMI, Banco Santander, BBVA, BNP PARIBAS, COMMERZBANK, Deutsche Bank, ING, Natixis, RBC Capital Markets, UniCredit Bank AG and Wells Fargo Securities that acted as additional Joint Bookrunners as well as ABN AMRO, C.L. King & Associates, Crédit Agricole CIB, Drexel Hamilton, KBC Securities, Loop Capital Markets, Mediobanca S.p.A., Rabobank, Ramirez & Co., Inc., Scotia Capital Inc. and Siebert Brandford Shank & Co., L.L.C. that acted as Co-Lead Managers. The new shares were listed on SIX Swiss Exchange and admitted to trading on 4 December 2015 and delivery of the new shares against payment of the offer price occurred on the same day.

Bär & Karrer acted as legal adviser to the underwriters in this transaction. The team was led by Till Spillmann and included Thomas Reutter, Rashid Bahar, Annette Weber, Andrea Giger, Ivo von Büren, Lara Kopp, Annina Dillier, Anna Guntli.