UBS has agreed to sell $8 billion of loans to Apollo Global Management. The loans include various debts such as mortgages and loans for yachts, which were packaged by UBS's New York-based securitized products business and sold as securities. The deal involves UBS selling Credit Suisse assets to Apollo, with the transaction amounting to $8 billion. The sale signifies a significant move by UBS in restructuring its assets.
If this is the best “cut” of their assets that still can find a bid (even if super low ball and even if I smell here $UBS might have lent Apollo the money to close it from the back door) and they take such a loss… …What about the assets still left in the books? 😉 https://t.co/UcalApffWr https://t.co/XGxlOPtcvt
***UBS Sells Credit Suisse Assets to Apollo for $8 Billion*** @markets $APO $UBS
UBS sells $8 billion of Credit Suisse assets to Apollo https://t.co/V3XkCPJacu
UBS sells US$8-billion of Credit Suisse assets to Apollo Global Management https://t.co/8Vi6W3XL0m
UBS sells $8 bln of Credit Suisse assets to Apollo https://t.co/N8zmL2wZFT https://t.co/YsrUA141fE
UBS to sell $8bn of loans to Apollo “The New York-based securitised products business packaged debts, such as mortgages and loans for yachts, before selling them on as securities.” https://t.co/xsAKsbGJMm v
UBS to sell $8bn of loans to Apollo https://t.co/TogFRH4vKI