Page 50 - Additional Tier News Today

UBS Group AG is emerging as a rare winner in Credit Suisse Group AG's crisis after a historic, government-brokered deal that contains a raft of financial shock absorbers.

European bank bonds slumped on Monday following the state-backed rescue of Credit Suisse by UBS as a wipeout of some bondholders raised concerns around broader bank capital and also hammered bank

As part of the merger, all shareholders of Credit Suisse will get 1 equity share in UBS for their 22.48 shares in Credit Suisse. This exchange ratio reflects a merger consideration of CHF 3 billion for all shares in Credit Suisse. Colm Kelleher will be Chairman and Ralph Hamers will be Group CEO of the combined entity.

The UBS takeover steadied sharemarkets, but the ECB and BoE interventions raise questions about the future of a $400 billion market in high-yield bank bonds.

AT1 and COCB recorded double-digit losses on Monday

Wall Street's main indexes opened on a mixed note, with the Dow Jones and the S&P in the green while the Nasdaq remained in red, as investors assess the takeover of Credit Suisse and its impact on the Fed's rate decision on Wednesday. | 10:52am

Shares of Switzerlands UBS bank plunged after Credit Suisse bailout deal was announced.

As early investor optimism about efforts to stem a banking crisis quickly evaporated, shares of Credit Suisse, UBS fell.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

The decision by Swiss authorities to wipe out Credit Suisses Additional Tier 1 (AT1) bonds could reduce demand for this type of bonds in the long term, a Goldman Sachs strategist said, but risk of