The private bank, operating in several jurisdictions, said the debt sale was part of a move to diversify its funding in international markets.

Julius Baer, which in May reported that it had “continued client momentum” with net new money inflows, yesterday said it had placed €500 million ($574.5 million) of five-year senior unsecured notes via a Netherlands-based entity.

The Zurich-listed bank, operating in a number of jurisdictions, said the issuance allows it to “further diversify its funding strategy in international debt markets.”

The transaction was targeted at European institutional investors. The securities carry a fixed-rate, annually payable coupon of 3.375 per cent per annum.

Separately, the private bank, said it will use its option to redeem all of the outstanding Perpetual Tier 1 Subordinated Bonds at par value plus accrued interest on the first call date on 25 June. The bonds had a coupon of 2.375 pr cent per annum; these were issued by the bank on 25 June 2019 in the aggregate nominal amount of SFr350 million ($427 million).