Forex

UBS Shrinks Legacy Credit Suisse Debt by Over $10 Billion Through Record Bond Repurchase

Guavy AI Editorial Team Published September 12, 2026

Instruments

GBP

UBS has completed its largest bond repurchase of legacy Credit Suisse debt to date. The Zurich-based lender retired $7.93 billion in nominal value through nine concurrent cash tender offers, exceeding its original $4.0 billion cap by $1.8 billion.

The offers, which ran from September 2 to September 10, targeted dollar, euro, and sterling-denominated bonds maturing up to 2033 with coupons as high as 9.016%. UBS has also exercised call rights on three further bonds, pulling another $1.8 billion forward.

The cumulative total of extinguished obligations now stands at around $15.6 billion, down from the initial $90 billion in liabilities following the takeover. CEO Sergio Ermotti framed the transaction as a win for shareholders and clients alike, highlighting the steady progress of the integration.

UBS Shrinks Legacy Credit Suisse Debt by Over $10 Billion Through Record Bond Repurchase

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