{"id":57328,"date":"2026-06-18T09:59:22","date_gmt":"2026-06-18T09:59:22","guid":{"rendered":"https:\/\/my.legal500.com\/developments\/?post_type=press_releases&#038;p=57328"},"modified":"2026-06-18T10:00:03","modified_gmt":"2026-06-18T10:00:03","slug":"homburger-advised-zurcher-kantonalbank-on-the-issuance-of-eur-500-m-bail-in-bonds-2","status":"publish","type":"press_releases","link":"https:\/\/my.legal500.com\/developments\/press-releases\/homburger-advised-zurcher-kantonalbank-on-the-issuance-of-eur-500-m-bail-in-bonds-2\/","title":{"rendered":"Homburger advised Z\u00fcrcher Kantonalbank on the issuance of EUR 500 m Bail-in Bonds"},"content":{"rendered":"<p><strong>On June 17, 2026, Z\u00fcrcher Kantonalbank (ZKB) successfully completed a further offering of Bail-in Bonds in the amount of EUR 500 m. Z\u00fcrcher Kantonalbank\u2019s Bail-in Bonds, including the newly placed EUR 500 m 3.622% 6NC5 Bail-in Bonds, have been designed and issued on the basis of a legal framework allowing Cantonal Banks to issue Total-Loss-Absorbing-Capacity (Gone-Concern Capital) Bonds. If FINMA orders the partial or complete reduction of the bondholders\u2019 claims under the Bail-in Bonds, the bondholders are entitled to receive Recovery Certificates. Such Recovery Certificates include claims, subject to multiple conditions precedent, for subsequent future compensation payments for the full or partial reduction of the bondholders\u2019 claims under the Bail-in Bonds.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>BNP PARIBAS, Commerzbank Aktiengesellschaft, UBS London Branch and Z\u00fcrcher Kantonalbank acted as Joint Lead Managers.<\/p>\n<p>The team advising Z\u00fcrcher Kantonalbank as issuer on all Swiss law aspects was led by Benjamin Leisinger (Capital Markets and Financial Market Regulation) and included Sofiya Shavlak and Yulia Shaburnykova (both Capital Markets). Tax aspects were covered by Dieter Gr\u00fcnblatt.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>Contact<br \/>\n<\/strong>Beatrice Winkler \/ Marketing \/ <a href=\"mailto:marketing@homburger.ch\">marketing@homburger.ch<\/a><\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-57328","press_releases","type-press_releases","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases\/57328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/press_releases"}],"about":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/types\/press_releases"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/developments\/wp-json\/wp\/v2\/media?parent=57328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}