UBS Announces Buyback of 2 Recently Issued Bonds 17th March 2023, EUR 1.5 Billion 4.625% Fixed Rate Due March 2028 & EUR 1.25 Billion 4.75% Fixed Rate Due March 2032, Offer Expires 28th March 2023 & Final Expiry on 4th April 2023
23rd March 2023 | Hong Kong
UBS announces buyback of 2 recently issued bonds (17th March 2023), the EUR 1.5 billion 4.625% fixed rate note (March 2028) & the EUR 1.25 billion 4.75% fixed rate (March 2032) note, with the tender offer to expire on 28th March 2023 and final expiry on 4th April 2023. UBS: “The price payable by the Issuer in respect of the Notes of each tranche accepted for purchase (the “Purchase Price”) will be (i) in the case of the Notes due March 2028, 99.932 per cent. of the principal amount of the relevant Note accepted for purchase, and (ii) in the case of the Notes due March 2032, 99.518 per cent. of the principal amount of the relevant Note accepted for purchase. The Offers commence on 22 March 2023 with the Early Expiration Deadline on 28 March 2023, and the Final Expiration Deadline on 4 April 2023 (together, the “Expiration Deadlines”), unless extended, withdrawn or terminated at the sole discretion of the Issuer.” See below for UBS statement on buyback offer:
“ UBS Announces Buyback of 2 Recently Issued Bonds 17th March 2023, EUR 1.5 Billion 4.625% Fixed Rate Due March 2028 & EUR 1.25 Billion 4.75% Fixed Rate Due March 2032, Offer Expires 28th March 2023 & Final Expiry on 4th April 2023 “
UBS Announces Buyback of 2 Recently Issued Bonds 17th March 2023
Announcement of tender offer of certain UBS Group AG senior unsecured bail-in notes
22nd March 2023 – UBS Group AG (the “Issuer”) invites the holders of the EUR 1.5bn 4.625% fixed rate notes due March 2028 with ISIN CH1255915006 and the EUR 1.25bn 4.750% fixed rate notes due March 2032 with ISIN CH1255915014 (together the “Notes”), both of which were issued on 17 March 2023 (the “Issue Date”), to tender their Notes for cash (the “Offers”).
Whilst UBS has been in compliance with all of its obligations relating to the Notes since the Issue Date, 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. 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 price payable by the Issuer in respect of the Notes of each tranche accepted for purchase (the “Purchase Price”) will be (i) in the case of the Notes due March 2028, 99.932 per cent. of the principal amount of the relevant Note accepted for purchase, and (ii) in the case of the Notes due March 2032, 99.518 per cent. of the principal amount of the relevant Note accepted for purchase.
The Offers commence on 22 March 2023 with the Early Expiration Deadline on 28 March 2023, and the Final Expiration Deadline on 4 April 2023 (together, the “Expiration Deadlines”), unless extended, withdrawn or terminated at the sole discretion of the Issuer.
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