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The Government of Singapore Investment Corp. will see CHF11 billion worth of UBS AG (UBSN.VX) notes being converted into shares on March 5, according to a Securities and Exchange Commission filing.
The filing said GIC will convert the notes into 230.7 million ordinary shares of UBS, bringing GIC's stake in UBS to 6.6%.
GIC held 9% of the Swiss bank through the convertible notes.
A GIC spokeswoman declined to comment. UBS also declined comment.
-By Costas Paris, Dow Jones Newswires; 65 6415 4151; firstname.lastname@example.org