SBB - comment

This morning’s tender announcement from SBB is in line with the announcement of the Community Asset sale to PPI. As we said at the time of the PPI deal, SBB has bought itself time until the maturities in November 2028. https://www.tradingview.com/news/reuters.com,2025-12-05:newsml_MFNbYmLM6:0-sbb-announces-voluntary-tender-offers-regarding-certain-outstanding-hybrid-and-senior-securities/