UBS Gauges Demand for Potential Australian-Dollar AT1 Notes

UBS Group AG has sounded out investors on a plan to issue Australian dollar-denominated equity conversion Additional Tier 1 bonds, according to a statement from the bank.

The lender will act as a joint lead manager along with ANZ Group Holdings Ltd., Commonwealth Bank of Australia, National Australia Bank Ltd., and Westpac Banking Corp. The transaction is expected to be launched as early as Tuesday with initial price thoughts in the 7% area.

The Swiss bank raised $2 billion in August through the offering of two dollar-denominated Additional Tier 1 bonds to tap the demand from cash-flush investors. AT1s, ...