Standard & Poor’s is expected to rate the dollar- denominated securities at BB, two levels below investment grade, the person said. UBS is marketing subordinated bonds for the first sale of the riskiest bank debt in Europe since January; it will sell so-called additional Tier 1 notes, which are the first to take losses in a crisis, to yield about 7%. The bond sales come as European banks have been struggling with their exposure to Greek debt.
UBS is marketing subordinated bonds for the first sale of the riskiest bank debt in Europe since January; it will sell so-called additional Tier 1 notes, which are the first to take losses in a crisis, to yield about 7%. The bond sales come as European banks have been struggling with their exposure to Greek debt.