UBS $1 Billion AT1 Sale Rakes in Nearly $12 Billion of Orders
- Bank plans to issue as much as $2 billion AT1 bonds in 2024
- It aims to beef up a capital buffer over the next five years
The UBS headquarters in Zurich.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
UBS Group AG sold dollar-denominated Additional Tier 1 notes just a day after setting out plans to sell billions more of the risky securities in the coming years.
The Swiss lender priced $1 billion of securities callable in April 2031 to yield 7.75%, according to a person with knowledge of the sale, who asked not to be identified because the information is private. It follows UBS’s return to the market in November, when it pulled in $36 billion of orders for $3.5 billion of AT1s across two tranches — a deal that marked a recovery of the market in a tumultuous year.