UBS has commenced the sale of additional tier 1 bonds, its first issuance of such securities since Credit Suisse's $17 billion debt writedown. This follows the controversy surrounding Credit Suisse's takeover. At least two investors who suffered losses from Credit Suisse's writedown have placed orders for UBS's latest offering of the same security. UBS' CEO Ermotti mentioned the continued focus on the Credit Suisse side. The market's response to UBS's AT1 deal contrasts with the previous sentiment towards Credit Suisse's AT1. Investors are now eagerly seeking allocation for UBS's AT1 deal, with a reported $35 billion being sought.
Not so long ago people were fulminating about the Swiss taking the Credit Suisse AT1 out back and shooting them. Now investors are chucking $35bn at a UBS AT1 deal in a desperate attempt at getting an allocation. What gives? https://t.co/TEuuP6IAyf https://t.co/LVgZRZMuHI
🔴 UBS' CEO ERMOTTI: WE ARE STILL SPENDING SUBSTANTIAL TIME ON THE CREDIT SUISSE SIDE.
At least two investors whose additional tier 1 holdings were wiped out by Credit Suisse’s historic writedown have put in orders for UBS’s latest offering of the same type of security. https://t.co/6rowMFXJK7
UBS storms AT1 market with first sale since Credit Suisse’s fall https://t.co/G1dHBA5lBt via @business
UBS sells first AT1 bonds since Credit Suisse takeover https://t.co/6fZ5RKdR47 https://t.co/tGFWYUlgSC
⚠️ UBS SELLS FIRST AT1 BONDS SINCE CREDIT SUISSE TAKEOVER Full Story → https://t.co/PVuTglPRWV https://t.co/L50m2nWkSh
UBS resumes selling the bonds at the heart of Credit Suisse controversy https://t.co/hW6eOaJZlp https://t.co/hW6eOaJZlp
Breaking news: UBS is looking to sell its first risky bonds that absorb losses since $17bn worth of the debt instruments were wiped out when it took over rival lender Credit Suisse https://t.co/Hc1XVNHXjS https://t.co/4fWXdPgBJb
UBS begins the sale of a hotly-anticipated additional tier 1 bonds, marking its first issuance of the securities since Credit Suisse’s writedown of about $17 billion of the debt https://t.co/2JnoB0CpMN
UBS begins the sale of a hotly-anticipated additional tier 1 bonds, marking its first issuance of the securities since Credit Suisse’s writedown of about $17 billion of the debt https://t.co/Sa7PY54xB9