Deals & Cases

UBS Switzerland AG issuance of EUR 1 billion Covered Bonds

8 March 2024 – On March 5, 2024, UBS Switzerland AG successfully closed its issuance of Covered Bonds under its covered bond program in an aggregate principal amount of EUR 1 billion with a coupon of 3.304% due March 2029. The Covered Bonds are governed by Swiss law and have been provisionally admitted to trading on SIX Swiss Exchange and application for definitive admission to trading and listing will be made. UBS AG acted as Arranger and UBS AG London Branch, Commerzbank Aktiengesellschaft, Danske Bank A/S, DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main, ING Bank N.V., Landesbank Hessen-Thüringen Girozentrale and Natixis as Joint-Lead Managers and Dealers and Deutsche Bank AG, HYPO NOE Landesbank für Niederösterreich und Wien AG, Norddeutsche Landesbank - Girozentrale and Svenska Handelsbanken AB (publ) as Co-Lead Managers and Dealers.

Walder Wyss advised the Arranger and the Dealers in respect of all transactional, regulatory and tax aspects of Swiss law in relation to the issuance. The Walder Wyss team was jointly led by Johannes A. Bürgi (Partner, Finance/Capital Markets) and Roger Ammann (Partner, Finance/Capital Markets) and included Thomas Meister (Partner, Tax) and Luca Bottani (Trainee Lawyer, Finance/Capital Markets).