Reported about 9 hours ago
UBS Group AG is launching $3.25 billion in bonds, marking its first bond sale since a court ruling raised concerns about the bank's exposure to canceled AT1 debt. This move follows a strong earnings report and comes as UBS faces legal and credit risks, particularly regarding its investment in a bankrupt U.S. auto parts supplier. The bank plans to appeal the court's decision, which invalidated the cancellation of Credit Suisse AT1 bonds during an emergency acquisition.
Source: YAHOO