UBS resumes selling the bonds at the heart of Credit Suisse controversy
Publishing timestamp: 2023-11-08 08:59:22
Summary
UBS is offering Additional Tier 1 (AT1) securities, specifically AT1 bonds, for the first time since completing its takeover of Credit Suisse. These bonds are considered relatively risky and are often owned by institutional investors. UBS is marketing two tranches of U.S. dollar AT1 bonds with yields around 10%. The bonds will contain a permanent write-down mechanism, but this may be replaced by an equity conversion mechanism if approved by UBS Group AG's annual general meeting.
Sentiment: NEUTRAL
Tickers: UBSG-CH,
Keywords: bonds, banks, business news, ubs group ag, switzerland, investment strategy, wall street, breaking news: investing,