UBS has announced a covered bond programme that will give international investors access to high-quality mortgage assets, originated in Switzerland, for the first time. UBS will issue its covered bonds via its London branch. In doing so the Swiss bank has shunned the long-established national covered bond framework.
“UBS, like other banks, has continued interest in diversifying our source of term funding. The covered bond market provides an ideal way for this and enables us to broaden our investor base or deepen existing relationships,” says Armin Peter, head of covered bond business and syndicate at UBS.
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