The Business Times

Credit Suisse to buy back 3b Swiss francs of debt securities

Published Fri, Oct 7, 2022 · 01:04 PM

CREDIT Suisse on Friday (Oct 7) said it has made an offer to repurchase up to 3 billion Swiss francs (S$4.3 billion) of senior debt securities.

“The transactions are consistent with our proactive approach to managing our overall liability composition and optimising interest expense and allow us to take advantage of market conditions to repurchase debt at attractive prices,” the bank said in a statement.

The lender said it was making a cash tender offer in relation to eight euro or pound sterling denominated senior debt securities for an aggregate consideration of up to one billion euros.

At the same time it was also making a cash offer to buy back 12 US dollar denominated senior debt securities for an aggregate consideration of up to US$2 billion.

The offers will expire on Nov 3 and Nov 10 respectively, subject to the terms and conditions set out in the offer documents, it added. REUTERS

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