Credit Suisse Makes $2.98 Billion Debt-Repurchase Offers
October 07 2022 - 1:53AM
Dow Jones News
By Joshua Kirby
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 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 joshua.kirby@wsj.com;
@joshualeokirby
(END) Dow Jones Newswires
October 07, 2022 01:38 ET (05:38 GMT)
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