Saturday, May 24, 2008

UBS Says More Losses on U.S., Global Mortgage Markets Possible

, the Swiss depository financial institution seeking $15.6
billion from stockholders to refill working capital after subprime-
related writedowns, said it may confront more than losings from holdings
in both U.S. and planetary mortgage markets.

UBS had losings on non-U.S. residential and commercial real-
estate securities in 2007 and the first one-fourth of this year
which ''could addition in the future,'' the Zurich-based bank
said in a course catalog for the rights offering published on its Web
site late yesterday. It didn't give any more than details.

The depository financial institution is also evaluating whether to restrict or discontinue
one or more than of its so-called U.S. reference-linked note
programs, which ''could consequence in a complaint to income,'' it said.

UBS had created 10 such as programs, which sold bonds
referenced to a pool of asset-backed securities held by the
bank, with a human face value of $16.9 billion. At the end of March,
the bank's nett exposure to reference-linked notes was $8.9

UBS, which sold $15 billion in subprime and Alt-A enslaveds to
a monetary fund managed by BlackRock Inc. to cut down risk, still have more
than $45 billion in U.S. mortgage-related assets, $8.6 billion
in leveraged finance committednesses and $10.4 billion in student
loans on its books. The depository financial institution takes to refill working capital after
about $38 billion in writedowns related to the U.S. subprime

UBS spokeswoman , contacted by Bloomberg
News, said the depository financial institution doesn't supply information beyond its
statements in the prospectus.

31 Percentage Discount

The depository financial institution said May 22 that stockholders can purchase seven new
shares for every 20 held at 21 Swiss francs ($20.55) each, a 31
percent terms reduction to the former day's shutting price. The
company, which already got a 13 billion-franc working capital injection
this year, programs to sell 760.3 million new shares, which are due
to begin trading on June 13, for nett return of about 15.5
billion francs.

Chief Executive Military Officer told Bilanz magazine
in an interview published yesterday that any additional writedowns
related to the U.S. mortgage marketplace won't be as big as the $19
billion first-quarter markdown UBS announced on April 1.

The world's greatest Banks have got suffered about $383 billion
in writedowns and recognition losings since the subprime crisis began
last year, and raised about $270 billion to refill capital.

To reach the newsmen on this story:
in Zurich at

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