Bloomberg News

UBS Said to Plan Covered Bonds Backed by Prime Swiss Home Loans

December 30, 2011

Dec. 30 (Bloomberg) -- UBS AG hired banks for a planned sale of covered bonds denominated in euros and backed by prime Swiss residential mortgages, according to a banker and investor familiar with the matter.

UBS plans to sell the bonds early in 2012 depending on market conditions, the people said. As well as its own investment-banking unit, UBS hired BNP Paribas SA, Commerzbank AG, ING Groep NV, Natixis and UniCredit SpA to manage the deal, which is likely to have top ratings from Moody’s Investors Service and Fitch Ratings, the people said.

To contact the editor responsible for this story: Paul Armstrong at parmstrong10@bloomberg.net


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