ZURICH, Nov 11 (Reuters) - Swiss bank Julius Baer has placed 450 million Singapore dollars ($317 million) worth of perpetual Additional Tier 1 securities with private banks and institutional investors to revamp its capital structure, it said on Thursday. The placement helps optimise the group’s capital structure given diminishing recognition under Basel III standards of “old-style” capital instruments such as preferred securities and lower Tier 2 subordinated unsecured bonds, it said. The deal marks the first time a European bank has issued an AT1 instrument denominated in Singapore dollars directly into the Singapore market, it said. The securities with a 5.90 percent coupon can be called on Nov. 18, 2020 or on that date each year thereafter, the bank said in a statement. $1 = 1.4192 Singapore dollars Reporting by Michael Shields, editing by David Evans
Julius bank has placed $ 500 m worth of perpetual Addional Tier ##age bonds with private banks and institutional investors so as to strengthen its capital structure .