UBS AG, which had more than $57 billion of losses and writedowns after the U.S. real-estate crash, is betting there’s enough demand for toxic commercial property assets to sell debt created at the height of the boom.
The bank is seeking buyers this week for collateralized debt obligations assembled in 2007 with a face value of $1.5 billion that contain securities tied to skyscrapers, malls and hotel loans. UBS is trying to follow the Federal Reserve Bank of New York’s record $7.5 billion sale of similar bonds last month acquired in the 2008 rescue of American International Group Inc.
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