Corporate Press Release
Credit Suisse Group AG Announces Results of Rights Offering
This document is not for release, publication or distribution (directly or indirectly) in or to the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan. It is not an offer of securities for sale in or into the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan.
This document is not an offer of securities for sale in the United States. The shares to which this document relates have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There will not be a public offering of shares in the United States.
In the context of the rights offering, existing shareholders of Credit Suisse Group AG were offered up to 260,983,898 newly issued registered shares with a nominal value of CHF 0.04 each. Shareholders of Credit Suisse Group AG were allotted one preemptive subscription right for each registered share they held on November 20, 2015, after close of trading. 13 preemptive subscription rights entitled the holder of such rights − subject to certain restrictions under applicable local laws − to purchase 2 new registered shares at the offer price of CHF 18 per share.
By the end of the rights exercise period on December 3, 2015, at 12:00 CET, preemptive subscription rights for 258,445,328 new registered shares had been validly exercised, which corresponds to 99.0% of the new registered shares offered. We plan to sell in the market 2,538,570 registered shares for which the preemptive subscription rights were not exercised.
The gross proceeds of the rights offering for Credit Suisse Group AG amount to CHF 4.7 billion. As a result of the rights offering, the number of registered shares of Credit Suisse Group AG in issue increased to 1,957,379,244. The share capital of Credit Suisse Group AG rose by CHF 10,439,355.92 from CHF 67,855,813.84 to CHF 78,295,169.76.
The listing and the first day of trading on the SIX Swiss Exchange of the newly issued registered shares from the rights offering, as well as the delivery of the new registered shares against payment of the offer price, are expected to take place on December 4, 2015.
The gross proceeds for Credit Suisse Group AG of the capital increase by way of a rights offering and the previously implemented capital increase by way of a private placement together amount to a total of CHF 6.0 billion. As a result of the two capital increases, Credit Suisse Group AG would have achieved as at the end of the third quarter of 2015 a pro forma Basel III look-through Common Equity Tier 1 (CET1) capital ratio of 12.2% and a pro forma Basel III look-through leverage ratio for Common Equity Tier 1 (CET1) capital of 3.5%, had the two capital increases taken place on that date and using year-end 2015 targets for risk-weighted assets and leverage exposure.
Not for release, publication or distribution in or to the United States, Canada, Australia, the Hong Kong Special Administrative Region of the People’s Republic of China, South Africa or Japan.