UBS repurchased approximately $7.93 billion in principal amount of legacy Credit Suisse senior notes through nine concurrent cash tender offers, settling on September 14 after the offers expired on September 10. The transaction, launched on September 2, covered securities denominated in U.S. dollars, euros and British pounds, with maturities extending through 2033 and coupons as high as 9.016%. Strong investor participation led UBS to increase the maximum purchase consideration from $4 billion to approximately $5.85 billion. The bank accepted all valid notes submitted under both the Any and All Offers and the revised Maximum Purchase Offers. The latest operation follows UBS's retirement of about $7.7 billion of legacy Credit Suisse TLAC notes and senior debt in November 2025, bringing the cumulative amount retired to roughly $15.6 billion. Legacy Credit Suisse debt has declined to about $29 billion from roughly $90 billion at the time of the 2023 takeover. UBS is using the buybacks to manage funding and total loss-absorbing capacity, or TLAC, while reducing inherited obligations and interest costs. Integration is reportedly on track for completion by the end of 2026, with merger-related cost efficiencies exceeding $12 billion. Reports on UBS shares differed by trading period: existing transaction details recorded a 1.56% premarket gain after a 1.51% prior-session decline, while the newer account said shares dipped roughly 2.8% around the announcement amid broader market trends.