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ZURICH - UBS Switzerland AG announced Tuesday it plans to issue a benchmark 5-year covered bond denominated in euros, according to a press release statement.
The covered bond will be guaranteed by UBS Hypotheken Schweiz AG. The stabilization period for the bond offering is expected to begin Tuesday and end no later than October 8, 2025.
UBS AG London Branch will act as the stabilizing manager for the transaction. As part of the stabilization process, the manager may over-allot securities or conduct transactions to support the market price of the securities at a level higher than might otherwise prevail, though there is no assurance any stabilization action will be taken.
The aggregate nominal amount of the covered bond was described as "EUR Benchmark" in the announcement, with the offer price yet to be determined. The maximum size of the over-allotment facility may reach up to 5% of the aggregate nominal amount.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States. The offering is directed at qualified investors in European Economic Area Member States that have implemented the Prospectus Directive, and to persons outside the United Kingdom or those in the UK with professional investment experience.
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