07:04 AM EDT, 06/17/2024 (MT Newswires) -- UBS (UBS) said Monday that it is offering to redeem units of the failed Credit Suisse's Supply Chain Finance Funds at 90% of net asset value as of February 25, 2021, minus payments made to fund investors through newly established feeder sub-funds.

The offer takes effect immediately and lasts until July 31, the company said.

UBS said it is provisionally laying aside $900 million for the redemption. It said it does not expect the offer will have a material impact on the bank's results.

The Supply Chain Finance Funds will be added to UBS's Non-Core and Legacy portfolio.

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