UBS buys back nearly $3 bln bonds issued days ago

UBS Group (UBSG.S) said on Wednesday it would buy back 2.75 billion euros ($2.96 billion) worth of debt it sold just days ago, seeking to boost confidence among investors rattled by its $3 billion rescue of rival Credit Suisse at the weekend, Report informs, citing Reuters.

The bonds in question are senior unsecured bail-in notes that were sold on March 9: a 1.5 billion-euro 4.625% fixed-rate note due March 2028 and a 1.25 billion-euro 4.750% fixed rate note due March 2032, UBS said in a statement.