VelocityShares Daily 2x VIX Short-Term ETN (TVIXF) has released an update.
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UBS Group AG and Apollo have finalized agreements which will see Apollo acquiring USD 8 billion of senior secured financing facilities from UBS, marking the evolution of Atlas into an independent investment grade asset-backed origination platform. The transaction is expected to result in a net gain of approximately USD 0.3 billion for UBS in Q1 of 2024, contrasting with Credit Suisse AG’s anticipated net loss of USD 0.9 billion. These developments are in line with UBS’s strategy to streamline its Non-Core and Legacy portfolio and Apollo’s aim to bolster Atlas’s stand-alone capabilities.
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