The listed private bank has underscored the importance of Asia to its business with plans to issue bonds via Singapore - saying it is the first foreign bank to take this course.

Switzerland-listed private bank Julius Baer, which states that Asia is its second home market, today announced plans to issue perpetual tier one subordinated bonds in a benchmark-sized volume, to be listed on the Singapore Exchange.

The firm said it would the first foreign banking institution to issue such bonds directly in the Singapore market.

As a result of the planned move, Julius Baer said the publication date of its interim management statement for the first 10 months of this year will be brought forward to 10 November, six days earlier than previously planned.
 
The issuance is designed to fit the bank’s capital structure more tightly with the latest international bank capital rules. “The bonds would be fully compliant with Basel III and qualify as additional tier one capital, thus benefiting the group’s very solid capital levels and ratings as the basis for the group’s further profitable growth,” it said, adding that it has asked Moody’s to rate the bonds.