UBS Said to Sell Five-Year Euro-Denominated Covered Bonds

UBS AG (UBSN) is selling five-year covered bonds in euros, according to a banker involved in the transaction.

The five-year bonds may be priced to yield in the low 60 basis-point area over the benchmark swap rate today, the banker said. BNP Paribas SA, Commerzbank AG, ING Groep NV, Natixis and UniCredit SpA (UCG) are managing the deal with UBS.

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