(Updates headline and adds information from the UBS press release in the first and fourth paragraph. Also includes background details in the fifth paragraph.)
UBS Group (UBS) has accepted $7.93 billion aggregate principal amount of notes in its cash tender offers for nine series of debt securities and upsized its maximum offer amount to about $5.85 billion from $4 billion, the company said Friday.
The offers expired at 5 pm ET Thursday, with settlement expected Monday.
The company said all maximum purchase notes that have been validly tendered by the expiration date have been accepted for purchase.
The accepted notes include securities denominated in US dollars, euros and British pounds, with maturities from 2028 through 2033, UBS said.
Legacy Credit Suisse debt on UBS' books has fallen to about $29 billion from about $90 billion at the time of the 2023 takeover, and the buyback is UBS' largest debt repurchase to date, according to a Bloomberg report.