Investors flood UBS CoCo with over EUR9bn of orders

Thu Feb 6, 2014 6:50am EST

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LONDON, Feb 6 (IFR) - UBS is poised to price a EUR2bn low trigger CoCo at mid-swaps plus 340bp, having attracted over EUR9bn of orders from investors, according to a lead manager.

The final pricing level for the 12NC7 deal is 5bp inside the mid-swaps plus 345-350bp initial marketing range.

The deal is expected to price later today via UBS (global coordinator), and bookrunners Deutsche Bank, RBS, Commerzbank, Credit Agricole CIB, Santander GBM, BBVA, Lloyds, UniCredit, VTB and Societe Generale CIB. (Reporting by Aimee Donnellan, editing by Julian Baker)

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