UBS Group AG (UBS) and Apollo conclude investment management and transition services agreements as final step in carve-out of former Credit Suisse Securitized Products business, Atlas SP [...
Credit Suisse X-Links Crude Oil Shares Covered Call ETN (USOI)
US:NASDAQ Investor Relations:
credit-suisse.com/articles/media-releases/2017/04/en/usoi-launch-pr.html
Company Research
Source: Yahoo! Finance
UBS (NYSE:UBS) (SWX:UBSN) and Apollo today announced that they have entered into an agreement pursuant to which ATLAS SP (Atlas) has concluded its Transition Services Agreement with UBS and UBS will close out its Investment Management Agreement with Atlas. As part of this agreement, Apollo will purchase USD 8 billion of senior secured financing facilities from UBS. This mutually beneficial agreement aligns with UBS's strategy of winding down and simplifying its Non-Core and Legacy (NCL) portfolio and with Apollo's continued momentum in growing Atlas as a standalone origination platform. For UBS, these actions will allow the bank to further accelerate its plans to unwind and more efficiently simplify its NCL portfolio, while minimizing any disruption to clients, and reduce risk-weighted assets and leverage ratio denominator in NCL. UBS Group expects to recognize a net gain in the first quarter of 2024 of around USD 0.3 billion from the conclusion of these agreements and the as
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USOI
Sec Filings
- 4/23/24 - Form 6-K
- 4/19/24 - Form 424B2
- 4/5/24 - Form 6-K
- USOI's page on the SEC website