Core Viewpoint - UBS CEO Sergio Ermotti criticized the excessive focus on risks and fears in the regulatory debate, arguing that it jeopardizes the trust gained from managing the Credit Suisse crisis [1][2]. Group 1: Regulatory Debate - The Swiss government is expected to publish proposed banking regulations by the end of April, which will address capital rules for the remaining major banks in Switzerland [3]. - Ermotti emphasized the importance of loss-absorbing instruments like Additional Tier 1 (AT1) capital, which are crucial for the upcoming regulatory discussions [3][4]. Group 2: Stability and Coordination - Ermotti stated that durable stability requires sound judgment, consistency, and international coordination, rather than short-term measures that may undermine long-term resilience and prosperity [2][3]. - He noted that internationally, loss-absorbing instruments are accepted as regulatory capital and were vital in stabilizing and restructuring Credit Suisse [4].

Core Points - Bladex successfully priced its inaugural Additional Tier 1 (AT1) capital offering, raising US$200 million with a 7.50% coupon, attracting significant interest from global institutional investors [1][2][3] - The transaction was over three times oversubscribed, indicating strong market confidence in Bladex [1][2] - The issuance aims to optimize Bladex's capital structure in compliance with local regulations and the Basel III framework, supporting future loan growth while maintaining capitalization above regulatory requirements [2][3] Company Overview - Bladex, established in 1979 by central banks of Latin America and the Caribbean, focuses on promoting trade finance and economic integration in the region [4] - The bank is headquartered in Panama and has representative offices in Argentina, Brazil, Colombia, Mexico, and a representative agency in the United States [4] - Bladex is listed on the New York Stock Exchange and the Mexican Stock Exchange, with a diverse shareholder base including central banks and institutional investors from twenty-three Latin American countries [4] Leadership Insights - CEO Jorge Salas highlighted that the issuance is a key milestone in Bladex's transformation, broadening access to new investor pools and reinforcing long-term growth strategy [3] - CFO Annette van Hoorde de Solis expressed satisfaction with the outcome, noting that the strong oversubscription allowed for competitive pricing and prudent expansion of the loan portfolio [3] Transaction Details - The AT1 securities are rated BB-/Ba2/BB- by S&P, Moody's, and Fitch, respectively [4] - The transaction was jointly led by Bank of America Securities and J.P. Morgan Securities, with Jefferies acting as Bookrunner [3]