UBS Raises $3 Billion From Sale of Additional Tier 1 Bonds
The headquarters of UBS Group AG in Zurich, Switzerland.
Photographer: Pascal Mora/BloombergUBS Group AG sold $3 billion of Additional Tier 1 bonds on Monday as major banks face modest refinancing needs that are expected to limit supply.
The bonds attracted more than $21 billion of investor bids, according to people familiar with the matter, allowing the bank to tighten pricing even as Swiss capital rules remain in flux and the fate of Credit Suisse’s wiped-out AT1s is unresolved.