UBS accepts tenders across six priority levels after $8.6B cap
Rhea-AI Filing Summary
UBS Group AG and UBS AG reported the results of seven concurrent cash tender offers for outstanding notes and increased the Maximum Purchase Consideration from $4 billion to $8.6 billion. Holders tendered $8,544,989,115 in aggregate principal before expiration, plus $29,350,000 via guaranteed delivery. UBS accepted $7,668,817,115 for purchase across series with Acceptance Priority Levels 1–6; Level 7 notes were not accepted.
The offers expired at 5:00 p.m. Eastern on November 5, 2025. The Initial Settlement Date is November 7, 2025, with Guaranteed Delivery settlement on November 10, 2025. Accepted holders will receive the applicable Total Consideration per $1,000/€1,000 of principal in cash, plus accrued interest to (but excluding) the Initial Settlement Date, after which interest stops accruing on purchased notes.
UBS also announced corrected reference yields and Total Consideration for each series as of 10:00 a.m. Eastern on November 5, 2025, including USD and EUR notes (EUR amounts translated at €1.00 = $1.14880). Dealer Manager: UBS Investment Bank; Information/Tender Agent: D.F. King & Co.
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Insights
UBS upsized buyback to reduce outstanding notes; most tenders accepted.
UBS increased its Maximum Purchase Consideration to
Interest on purchased notes ceases accruing on the
Activity by series follows acceptance priority: all qualifying tenders in Levels 1–6 were accepted; Level 7 was not. Actual impact depends on final settlement (including guaranteed deliveries) and the mix of notes tendered at each series’ Total Consideration.