Homburger advised UBS Group AG on its offers to repurchase nine series of outstanding debt securities in an aggregate principal amount of USD 7.9 bn

On September 14 and 15, 2026, UBS Group AG successfully completed its all-cash tender offers with respect to nine series of bail-inable (TLAC) bonds that were originally issued by Credit Suisse Group AG. Three of the all-cash tender offers were structured as «any and all offers», and six of the all-cash tender offers were structured as «maximum purchase offers». UBS Group AG upsized the maximum purchase consideration of the maximum purchase offers from initially USD 2 bn to USD 5.85 bn and accepted all validly tendered TLAC bonds across the nine series, representing an aggregate principal amount of USD 7.93 bn.

The TLAC bonds repurchased by UBS Group AG were eligible to count towards UBS Group AG’s Swiss gone-concern requirement, governed by Swiss law and admitted to trading and listed on the SIX Swiss Exchange.

Homburger advised UBS Group AG with respect to all regulatory and transactional aspects of Swiss law.

The Homburger team was led by Benedikt Maurenbrecher and Stefan Kramer and included Olivier Baum and Lee Saladino (all Capital Markets), as well as Stefan Oesterhelt (Tax).