UBS Group AG has issued AT1 (subordinated) perpetual bonds with a volume of USD 3.5 billion for the first time since taking over Credit Suisse. The transaction comprised two tranches: Both tranches have a volume of USD 1.75 billion each and a coupon of 9.25%. UBS has the right to repay one tranche after five years and the other tranche after 10 years. The bonds qualify as additional core capital (Additional Tier 1) under Swiss law.
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Photo: UBS headquarters in Zurich, Bahnhofstrasse 45 © UBS