UBS

With a relentless flow of cash into credit markets this year, almost every borrower could be said to have done well. But some issuers stood out for their ability to establish new footholds in certain markets that have since paved the way for peers

◆ Canadian bank taps Swissies for second time in 2025 ◆ Covered bond raises Sfr335m in line with order book ◆ Deal prices close to fair value

Standard Chartered raised $1bn AT1 with none to call next year

New look corporate finance division has merged M&A and sponsor coverage

Meanwhile UBS prepares to appeal court's decision that writing down Credit Suisse AT1s was unlawful

Owners of the bonds face a long route to a payout but have a precedent in sight

Claims on Credit Suisse AT1 bonds shot up after a court ruling this week, though a long judicial process is anticipated

Deal opens door for more foreign FIG regulatory capital raising Down Under

◆ Investors pledge strong demand for 'exotic' deal ◆ Slim premium paid ◆ UBS takes €1bn at five years

High demand for senior and tier two debt keeps deals rolling in

UBS stock has underperformed this year

Senior funding there for the taking, covered bonds yet to take off — but conditions are great for all