Published on 1/16/2024 in the Prospect News Investment Grade Daily.
New Issue: UBS sells $4 billion of benchmark bonds due 2030, 2035
By Cristal Cody
Chicago, Jan. 16 – UBS Group AG sold $4 billion of benchmark bonds, according to a market source and information posted by the bank.
The deal included $1.75 billion of 5.428% six-year bonds. There are five years of call protection. Pricing was at Treasuries plus 152 basis points. Talk started them in the 180 bps area.
The second tranche priced as $2.25 billion of 5.699% bonds due in 2035. The notes are callable on Feb. 8, 2034. The spread priced as Treasuries plus 177 bps on talk in the 205 bps area.
UBS was the bookrunner.
UBS is an investment banking company based in Zurich and Basel, Switzerland.
Issuer: | UBS Group AG
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Amount: | $4 billion
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Issue: | Bonds
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Bookrunner: | UBS
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Trade date: | Jan. 2
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Settlement date: | Jan. 8
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Ratings: | Moody’s:
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| S&P:
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| Fitch:
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Distribution: | Rule 144A and Regulation S
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Bonds due 2030
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Amount: | $1.75 billion
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Maturity: | Feb. 8, 2030
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Coupon: | 5.428%
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Spread: | Treasuries plus 152 bps
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Call features: | Feb. 8, 2029
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Price talk: | Treasuries plus 180 bps area
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ISINs: | US902613BJ61, USH42097EV54
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Bonds due 2035
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Amount: | $2.25 billion
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Maturity: | Feb. 8, 2035
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Coupon: | 5.699%
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Spread: | Treasuries plus 177 bps
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Call features: | Feb. 8, 2034
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Price talk: | Treasuries plus 205 bps area
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Cusip: | US902613BH06, USH42097EU71
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