UBS offers to buy back some of its own bail-in notes

1 min read 22 Mar 2023, 12:22 PM IST Bloomberg

The statement further stressed that the deal opens on March 22.

The illuminated logos of the Swiss banks Credit Suisse and UBS are seen on buildings next to traffic lights in Zurich, Switzerland on Saturday, March 18, 2023. (Michael Buholzer/Keystone via AP) (AP)

UBS Group AG has announced its intention to repurchase its euro-denominated senior unsecured bail-in notes maturing in March 2028 and March 2032, as per a statement released by the company.

“The Issuer is offering to purchase the notes at their respective re-offer price in light of the exceptional corporate actions announced on 19 March 2023, shortly after the issue date," it said on Wednesday.

“The Issuer has decided to launch this exercise as a result of a prudent assessment of these recent developments and the Issuer’s long-term commitment to its credit investors."

The deal opens on March 22, it said.

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Updated: 22 Mar 2023, 12:22 PM IST