Homburger advises UBS Group on its issuance of USD 5.8bn in Notes
On January 11, 2022, UBS Group successfully completed its issuance of USD 1.5 bn in aggregate principal amount of Fixed Rate/Fixed Rate Senior Notes due February 2033 and USD 1.5 bn in aggregate principal amount of Fixed Rate/Fixed Rate Senior Notes due February 2043 under its Senior Debt Programme. The Notes are bail-inable (TLAC) bonds that are eligible to count towards UBS Group AG’s Swiss gone concern requirement.
On January 12, 2022, UBS Group successfully completed its issuance of USD 1.5 bn 4.875 per cent. Tier 1 Capital Notes. The Notes are «high trigger» regulatory capital instruments that are eligible to fulfil UBS Group AG’s Swiss going concern requirements.
The Notes are governed by Swiss law and have been provisionally admitted to trading, and application has been made for definitive admission to trading and listing of the Notes, on the SIX Swiss Exchange.
On January 13, 2022, UBS, acting through its London branch, successfully completed its issuance of (i) USD 300 m aggregate principal amount of Floating Rate Notes due 2025, and (ii) USD 1 bn aggregate principal amount of 1.375 per cent. Notes due January 2025, in each case under its Euro Note Programme.
Homburger advised UBS Group with respect to all regulatory and transactional aspects of Swiss law. The Homburger team was led by partner Benedikt Maurenbrecher (financial market regulation / capital markets, pictured) and included partner Stefan Kramer (financial market regulation / capital markets), counsel Lee Saladino and associate Sofiya Shavlak (both capital markets), as well as partner Stefan Oesterhelt (tax).
