FX.co ★ Apollo Finalizes Atlas Transition In Partnership With UBS - Quick Facts

UBS Group AG and Apollo have finalized an agreement, marking the completion of ATLAS SP's Transition Services Agreement with UBS. This milestone represents the last step in the carve-out of the former Credit Suisse Securitized Products business known as Atlas SP. UBS is set to conclude its Investment Management Agreement with Atlas. Apollo, in turn, is preparing to acquire $8 billion worth of senior secured financing facilities from UBS.

In financial terms, UBS Group is anticipating a net gain of approximately $0.3 billion in the first quarter as a result of the completion of these agreements and the transfer of the senior secured financing facilities. On the other hand, Credit Suisse AG is projected to experience a net loss of approximately $0.9 billion.