Credit Suisse makes buyback offers of $2.98 billion

Credit Suisse Group AG announced on Friday that it is offering to buy back nearly $3 billion of debt as the troubled lender seeks to manage its debt ahead of an announced restructuring.

The Swiss Bank CS,

is offering to repurchase eight euro or sterling-denominated senior debt for a total of up to 1 billion euros ($979.2 million), it said.

It is also offering to buy back 12 US dollar-denominated securities for up to US$2 billion. Both offers are subject to various conditions and expire on November 3 and 10, respectively, Credit Suisse said.

The value of some Credit Suisse bonds fell along with shares of the lender earlier this week amid speculation about its financial health. The bank has been struggling to reassure investors ahead of a planned strategy update, due on October 27 along with quarterly results.

Write to Joshua Kirby at; @joshualeokirby Credit Suisse makes buyback offers of $2.98 billion

Brian Lowry

InternetCloning is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – The content will be deleted within 24 hours.

Related Articles

Back to top button