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Business > Foreign Business
UBS to buy back pre-takeover bonds
By Agence France-Presse
Mar 24, 2023 12:06 am

ZURICH: In a bid to reassure investors, UBS announced on Wednesday it will buy back bail-in bonds issued shortly before taking over its rival Credit Suisse.

UBS, Switzerland's biggest bank, issued bail-in bonds on Friday, two days before taking over the country's stricken second-largest bank under strong pressure from the Swiss authorities.

BUY BACK Logos of the Swiss banks Credit Suisse and UBS are seen on two buildings in Zurich, Switzerland on March 18, 2023. UBS announced on Wednesday, March 22, 2023, it is buying back the bonds they issued before the takeover of Credit Suisse. AP PHOTO

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