By William Gullotti and Cristal Cody
Buffalo, N.Y., Sept. 19 – UBS Group AG priced $4.5 billion of notes in three tranches on Monday, according to a market source.
The first tranche was for $1.25 billion of 6.327% notes due Dec. 22, 2027, priced at a spread of 160 basis points over Treasuries, tighter than initial talk in the Treasuries plus 175 bps to 180 bps area. The first tranche is non-callable for 3.25 years.
UBS priced a $1.5 billion tranche with a 6.246% coupon and a six-year tenor, featuring five years of call protection. The notes priced with a spread of 180 bps over Treasuries, also tighter than initial talk in the Treasuries plus 200 bps area.
The third was $1.75 billion of 6.301% notes due 2034 that are non-callable for 10 years. The notes priced with a spread of 200 bps over Treasuries versus initial spread talk in the 220 bps area.
UBS acted as its own bookrunner.
The investment bank and financial services company is based in Zurich and Basel, Switzerland.
| Issuer: | UBS Group AG
|
| Amount: | $4.5 billion
|
| Issue: | Senior notes
|
| Bookrunner: | UBS
|
| Trade date: | Sept. 18
|
|
|
| 2027 notes
|
| Amount: | $1.25 billion
|
| Maturity: | Dec. 22, 2027
|
| Coupon: | 6.327%
|
| Spread: | Treasuries plus 160 bps
|
| Call: | Non-callable for 3.25 years
|
| Price talk: | Treasuries plus 175 bps to 180 bps area
|
|
|
| 2029 notes
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 22, 2029
|
| Coupon: | 6.246%
|
| Spread: | Treasuries plus 180 bps
|
| Call: | Non-callable for five years
|
| Price talk: | Treasuries plus 200 bps area
|
|
|
| 2034 notes
|
| Amount: | $1.75 billion
|
| Maturity: | Sept. 22, 2034
|
| Coupon: | 6.301%
|
| Spread: | Treasuries plus 200 bps
|
| Call: | Non-callable for 10 years
|
| Price talk: | Treasuries plus 220 bps area
|
|
|
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