UBS Offers Bond Buyback and Terminates Credit Suisse Deal Amidst Industry Changes.

UBS is offering to buy back $3 billion of bonds issued days before its acquisition of Credit Suisse Group AG, in an effort to calm concerns over the risks of the deal. While shareholders have cheered UBS picking up its rival at a very cheap price, its bond prices have dropped in recent days and credit ratings companies have lowered their outlook on the bank’s debt. UBS’s credit risk has been jolted since concern over Credit Suisse’s fate, and the role UBS would play in it, roiled global markets.