UBS to Repurchase Series of Credit Suisse Bonds
Swiss banking giant UBS has launched tender offers for seven outstanding bonds originally issued by Credit Suisse, with a combined volume equivalent to approximately $16.2 billion.
The offers, announced on Thursday, cover various series of debt securities. Six of the bonds total $12.7 billion, while the remaining issue amounts to 3 billion euros. The notes carry maturities between 2027 and 2033 and coupon rates ranging from 4.282 to 9.016 percent.
According to UBS, the repurchases aim to optimize the group’s capital structure and reduce interest expenses.
