ZURICH - UBS's takeover of Credit Suisse has fed a creeping anxiety that Swiss companies will pay a price for the enlarged bank's outsize market strength .
"Services and credit were subsidised or priced at an unacceptable level, well below where UBS prices, and well below every competitor prices. So, it's true that in a selective way, we're going to have to relook at repricing things," he said. "Some companies are seeing a negative effect on banking services. But many fear this is going to happen," said Jean-Philippe Kohl, deputy director of Swissmem, whose survey showed availability of credit was companies' biggest worry.
Some senior executives at Swiss-listed firms privately worry that issuing corporate bonds could get more expensive.The enlarged UBS had a 45% market share for underwriting Swiss franc-denominated bonds in 2023, according to figures from finance industry data provider Dealogic. But it worries smaller firms could feel pain, with UBS expected to adopt a more top-down, risk averse approach.
Source: News Formal (newsformal.com)
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