UBS Launches Tender Offers for Up to $6 Billion in Notes

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UBS (UBS) has launched nine cash tender offers to purchase up to $6 billion of its outstanding notes, the company said Wednesday.

The offers cover three series on an any-and-all basis and six series subject to a $2 billion maximum purchase consideration. The notes include securities denominated in US dollars, British pounds and euros with maturities from 2028 through 2033, the company said.

The offers expire at 5 pm ET on Sept. 10, unless extended.

The offers are part of its management of funding and total loss-absorbing capacity and are intended in part to optimize interest expense, the company said.

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