Four series of Additional Tier 1 bonds issued by UBS have been made available for conversion to equity.
Three series of bonds worth a total of $4.5 billion and one valued at S$650 million ($480 million) issued by UBS have been made available for equity conversion following shareholder approval, according to a statement. A pair of the series were issued in November 2023 while the other pair was issued in February this year.
«As a result, as from such date, these instruments are subject to equity conversion (and no longer subject to write-down) upon the occurrence of a trigger event or a viability event,» the bank said.
