UBS has reportedly announced to buy back its bonds worth $3 billion issued to investors just days after it agreed to acquire the beleaguered Credit Suisse Bank. According to a statement made by UBS, the buyback offer starts on March 22, has an early expiration date of March 28 and a final expiration date of April 4.
The bank has announced that it will exchange the senior unsecured bail-in notes which are due in March 2028 and March 2032 at the re-offer price. The decision comes on the back of the March 19 deal when UBS acquired Credit Suisse for an exceptional sum of $3 billion.
The March 2032 bond was priced at 99 cents in Hong Kong on Wednesday which was below its re-offer piece of 99.518 cents and the March 2028 bonds were priced at 99.9 cents with its reoffer price being 99.932 cents, data compiled by Bloomberg showed.
1 December 2025
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The buyback offer is seen as an attempt by UBS to honour the commitment made to its investors. In a statement issued by the bank, it said, “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.”
In the aftermath of UBS’ takeover of its rival bank, AT1 bonds worth $17 billion issued by Credit Suisse were made worthless. UBS’ plan to acquire the crisis-hit Credit Suisse at $3 billion, which is less than its market value of $8 billion, was announced over the past weekend after the Swiss government stepped in as a broker to the deal. Following this, central banks around the world announced several coordinated measures to stabilise the volatility in the global banking sector.
