UBS news

UBS to buy back outstanding bonds in a public tender offer

Zurich / Basel Price Sensitive Information

UBS offers to buy outstanding lower tier 2 debt for up to EUR 1 billion using available cash. The note repurchases would result in a gain that will bolster UBS's tier 1 regulatory capital ratio.

UBS today announces that it is making a tender offer relating to four lower tier 2 bonds with maturity dates between November 2015 and September 2019 and a notional value of around CHF 7 billion. The maximum size of the tender is approximately EUR 1 billion.

The four subordinated notes targeted in this transaction currently trade at a significant discount to their original issuance price. If the transaction proceeds as expected, it would have a small beneficial effect on UBS's Tier 1 regulatory capital ratio.

The tender period will end on March 25.