Credit Suisse makes $2.98 billion debt-repurchase offers


Credit Suisse Group AG said Friday that it is offering to repurchase debt securities for a total of close to $3 billion as the troubled lender looks to manage its liabilities ahead of a touted restructuring.

The Swiss bank CS, +1.66% CSGN, +2.60% is offering to buy back eight euro- or pound sterling-denominated senior debt securities for a total of up to 1 billion euros ($979.2 million,) it said.

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

The value of some Credit Suisse bonds fell at the beginning of this week alongside shares in the lender amid speculation over its financial health. The bank has moved to reassure investors ahead of a planned strategy update due on Oct. 27 alongside quarterly results.

Write to Joshua Kirby at; @joshualeokirby

This article was originally published by Read the original article here.

Previous article: A majority of Republicans don’t want a national abortion ban, new poll shows
Next articleCannabis stocks rally on Biden pardon for pot possession, study of Schedule I status of cannabis


Please enter your comment!
Please enter your name here