UBS Group AG (NYSE:UBS) is one of the best European bank stocks to buy now. On November 7, Keefe Bruyette & Woods cut its rating on UBS Group AG (NYSE:UBS) to Underperform from Market Perform and lowered its price target to CHF 31 from CHF 32. The downgrade reflected concerns over mounting regulatory pressures in Switzerland and ongoing litigation risks, which the firm believes could weigh on the stock.
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A day earlier, on November 6, UBS Group AG, alongside its subsidiary, UBS AG, raised the maximum purchase consideration for its ongoing cash tender offers for certain outstanding debt securities to $8.6 billion from a previously announced $4.0 billion. The move follows strong investor participation in the offers. The tender offers covered seven separate series of notes, including US dollar and euro-denominated senior notes issued by UBS Group AG (NYSE:UBS) and UBS AG. This also includes the securities that were initially issued by Credit Suisse before its acquisition by UBS.
The banking group detailed that a combined aggregate principal amount of approximately $7.67 billion in notes was accepted for purchase within the upsized $8.6 billion cap. This excludes notes delivered under guaranteed delivery procedures. The offers were prioritized by acceptance levels across series, and the company stated that the maximum purchase condition was satisfied for series with acceptance priority levels 1 through 6 after the upsizing.
The tender period expired on November 5, 2025, with a total of about $8.54 billion aggregate principal amount tendered across the seven series. This is before applying proration and acceptance priority rules.
UBS Group AG (NYSE:UBS) is Switzerland’s largest bank and a leading European financial services provider. It operates across wealth management, investment banking, asset management, and retail banking, serving clients globally.
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Disclosure: None. This article is originally published at Insider Monkey.