UBS Sells $3.25 Billion in First Deal Since AT1 Ruling (2)

UBS Group AG sold its first bonds since a court decision raised questions about the Swiss lender’s possible exposure to previously canceled Credit Suisse debt.

The bank priced $3.25 billion of senior notes, according to a person familiar with the matter who asked not to be identified. The $2 billion shorter-maturity tranche sold at 0.95 percentage point over Treasuries, while the $1.25 billion longer-dated tranche had a spread of 0.875 percentage point, the person said. Both tranches priced about a quarter-point tighter than initial price talk. The bonds are expected to be rated A2/A-/A.

The offering marks UBS’s first return ...