UBS Raises CHF 1.75B in Notes Offering
Ticker: UBS · Form: 6-K · Filed: 2024-05-13T00:00:00.000Z
Sentiment: neutral
Topics: debt-offering, capital-raise, acquisition-integration
Related Tickers: CS
TL;DR
UBS just sold CHF 1.75B in notes to boost its capital after the Credit Suisse deal.
AI Summary
On May 13, 2024, UBS Group AG announced the successful completion of its offering of CHF 1.75 billion in senior unsecured notes, which are intended to qualify as conversion capital. The offering was made to institutional investors and is part of UBS's ongoing efforts to optimize its capital structure following the acquisition of Credit Suisse.
Why It Matters
This offering helps UBS Group AG manage its capital structure post-Credit Suisse acquisition, potentially impacting its financial flexibility and regulatory standing.
Risk Assessment
Risk Level: medium — The offering involves debt issuance, which carries inherent financial risks for the company and investors, and is tied to the integration of a major acquisition.
Key Numbers
- CHF 1.75B — Notes Offering (Amount raised to bolster conversion capital)
Key Players & Entities
- UBS Group AG (company) — Issuer of the notes
- CHF 1.75 billion (dollar_amount) — Total amount raised from the notes offering
- May 13, 2024 (date) — Date of the news release and offering completion
- Credit Suisse (company) — Acquired entity influencing capital structure
FAQ
What is the purpose of the CHF 1.75 billion notes offering?
The notes are intended to qualify as conversion capital for UBS Group AG, contributing to its capital structure optimization following the acquisition of Credit Suisse.
Who were the investors in this offering?
The offering was made to institutional investors.
When did UBS Group AG announce this offering?
The news release regarding the offering was dated May 13, 2024.
What is the maturity or specific terms of these notes?
The provided text does not specify the maturity or other detailed terms of the notes, only the amount and their intended capital qualification.
How does this offering relate to the Credit Suisse acquisition?
The offering is part of UBS's efforts to optimize its capital structure after the acquisition of Credit Suisse.
From the Filing
0001610520-24-000110.txt : 20240513 0001610520-24-000110.hdr.sgml : 20240513 20240513085311 ACCESSION NUMBER: 0001610520-24-000110 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240513 FILED AS OF DATE: 20240513 DATE AS OF CHANGE: 20240513 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UBS Group AG CENTRAL INDEX KEY: 0001610520 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] ORGANIZATION NAME: 02 Finance IRS NUMBER: 000000000 STATE OF INCORPORATION: V8 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-36764 FILM NUMBER: 24937082 BUSINESS ADDRESS: STREET 1: BAHNHOFSTRASSE 45 CITY: ZURICH STATE: V8 ZIP: CH-8001 BUSINESS PHONE: 41-44-234-1111 MAIL ADDRESS: STREET 1: BAHNHOFSTRASSE 45 CITY: ZURICH STATE: V8 ZIP: CH-8001 6-K 1 newsrelease6k20241305.htm newsrelease6k20241305                       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 6-K REPORT OF FOREIGN PRIVATE   ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date: May 13,   2024 UBS Group AG (Registrant's Name) Bahnhofstrasse 45, 8001 Zurich, Switzerland (Address of principal executive office) Commission File Number: 1-36764 Indicate by check mark whether the registrant files or will file annual   reports under cover of   Form 20-F or Form 40- F. Form 20-F   ☒   Form 40-F   ☐   This Form 6-K consists of the news release, which appear immediately   following this page.                                         Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG, News Release, 13 May 2024   Page 1 13 May 2024 News release Availability of conversion capital for UBS Group AG Additional Tier 1 instruments issued since November 2023 Zurich, 13 May 2024 – Following shareholder approval of   the creation of conversion capital and amendments to the Articles of Association at UBS Group AG’s   Annual General Meeting on 24 April 2024,   a Conversion Capital Availability Event, as defined in the terms   and conditions of the relevant instrument, occurred on 10 May 2024 for the below listed four series of   UBS Group AG Additional Tier 1 instruments.   As a result, as from such date, these instruments are subject to equity conversion   (and no longer subject to write-down) upon   the occurrence of a trigger event or a viability event. ISIN CUSIP Issuance Date Title of Instrument Aggregate Principal Amount Outstanding US902613BE74 / USH42097ER43 (144A / Reg S) 902613 BE7 / H42097 ER4 (144A / Reg S) 13 November 2023 9.250 per cent. Tier 1 Capital Notes USD 1,750,000,000 US902613BF40 / USH42097ES26 (144A / Reg S) 902613 BF4 / H42097 ES2 (144A / Reg S) 13 November 2023 9.250 per cent. Tier 1 Capital Notes USD 1,750,000,000 US902613BK35 / USH42097EW38 (144A / Reg S) 902613 BK3 / H42097 EW3 (144A / Reg S) 12 February 2024 7.750 per cent. Tier 1 Capital Notes USD 1,000,000,000 CH1325807860 N/A 21 February 2024 5.750 per cent. Tier 1 Capital Notes SGD 650,000,000 UBS Group AG Investor contact Switzerland:   +41-44-234 41 00 Media contact Switzerland:   +41-44-234 85 00 UK:   +44-207-567 47 14 Americas:   +1-212-882 58 58 APAC:   +852-297-1 82 00 www.ubs.com/media Investor Relations Tel. +41-44-234 41 00 Media Relations Tel. +41-44-234 85 00 UBS Group AG, News Release, 13 May 2024   Page 2 Disclaimer This announcement is intended solely for   information purposes and does not constitute   an offer of securities for sale in the United States or any other jurisdiction.   No investment decision relating to securities should   be made on the basis of this document. Th