Bank Baer to List Bond in Singapore

Bank Julius Baer, the Zurich-based private bank, is extending its reach in Asia and using the Singapore stock exchange to bolster its capital base.

Julius Baer will issue so-called perpetual subordinated bonds and list them on the Singapore stock exchange, the bank said in a statement today. According to Julius Baer, it will be the first foreign bank to issue such a bond directly in Singapore, underlining the importance of Asia as the company's second home market.

Interim Statement Moved Forward

Significantly and in light of the issuance, the bank also moved its interim 10-month statement forward to November 10, 2015 from November 16.

Julius Baer aims to further strengthen its capital base with the bond, which is compliant with the requirements of Basel III. The company expects Moody's to rate the bond.

 

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