UBS
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Standard Chartered raised $1bn AT1 with none to call next year
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New look corporate finance division has merged M&A and sponsor coverage
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Meanwhile UBS prepares to appeal court's decision that writing down Credit Suisse AT1s was unlawful
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Owners of the bonds face a long route to a payout but have a precedent in sight
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Claims on Credit Suisse AT1 bonds shot up after a court ruling this week, though a long judicial process is anticipated
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Deal opens door for more foreign FIG regulatory capital raising Down Under
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◆ Investors pledge strong demand for 'exotic' deal ◆ Slim premium paid ◆ UBS takes €1bn at five years
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High demand for senior and tier two debt keeps deals rolling in
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Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all
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◆ UBS ends 14 month Swiss franc covered absence ◆ Next to no premium paid ◆ Swiss bank has raised AT1, senior unsecured and now covered in the last week
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◆ Swiss bank quickly follows $2bn AT1 with senior holdco print in euros ◆ Deal's high oversubscription may tempt others to print soon ◆ DNB diversifies funding printing rare euro FRN