UBS Group AG has announced a series of cash tender offers for certain debt securities. The initiative is part of the company's ongoing strategy to manage its funding and total loss-absorbing capacity, as well as to optimize interest expenses. UBS stated that, regardless of these offers, it will continue issuing senior unsecured liabilities in major currency markets. These issuances may or may not coincide with the current tender offers.
The tender offers are set to expire at 5:00 p.m. Eastern time on November 5, 2025, unless extended or terminated earlier. Investors who wish to withdraw their notes must do so by the same deadline. Each offer operates independently, allowing UBS to terminate or modify one without affecting others.
Holders using guaranteed delivery procedures have until 5:00 p.m. Eastern time on November 7, 2025, to submit the necessary documentation and tender their notes. The settlement date for notes validly tendered before the expiration is expected to be two business days later—November 7, 2025—while those submitted under guaranteed delivery procedures should settle by November 10, 2025.
Investors whose notes are accepted will receive payment equal to accrued and unpaid interest up until but excluding the initial settlement date. Interest will stop accruing after this date for all accepted notes.
Completion of each offer depends on several conditions outlined in the Offer to Purchase document. One key condition is that the aggregate consideration paid (excluding accrued interest) must not exceed $4 billion across all accepted tenders. If this limit is reached for any series of notes based on acceptance priority levels, only certain tenders will be accepted accordingly.
UBS reserves the right to waive or increase this purchase limit at its discretion and warns investors not to submit more notes than they are willing to sell since withdrawals may become impossible if terms change after submission.
All details about terms and procedures can be found in the Offer to Purchase available from D.F. King & Co., Inc., which serves as information agent and tender agent for USD-denominated offers; UBS AG acts as tender agent for EUR-denominated offers. Copies of related documents can be accessed at https://clients.dfkingltd.com/UBS/.
"This press release is neither an offer to purchase nor a solicitation of an offer to sell the Notes or any other securities," states UBS in its announcement. "The Offers are made only by and pursuant to the terms of the Offer to Purchase and only to such persons and in such jurisdictions as is permitted under applicable law." The company adds: "None of UBS, the Dealer Managers, any fiscal agent, any paying agent or any trustee, as applicable, the Tender Agents or the Information Agent or their respective directors, employees and affiliates makes any recommendation whatsoever regarding the Offers, or any recommendation as to whether Holders should tender their Notes for purchase pursuant to the Offers."
Investors seeking further information can contact UBS Investor Relations in Switzerland at +41-44-234 41 00 or in Americas at +1 212 882 57 34.