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UBS Seeking to Buy Back $16 Billion in Bonds Before Fed

A company logo hangs outside the entrance of UBS Group headquarters in Zurich.
Photographer: Chris Ratcliffe/Bloomberg
Updated on

UBS Group AG is seeking to buy back about $16 billion in bonds, partly to replace debt instruments that will no longer count toward capital under tougher rules.

The cash offer expires Dec. 15, one day before the U.S. Federal Reserve is expected to raise rates. The bank will book a charge from the transactions in the fourth quarter that won’t make a big dent in its capital cushions, it said in a statement Friday.