Credit Suisse Group AG has announced that it will buy back CHF 3 billion ($3 billion) in bonds, taking advantage of the market downturn. ready to show financial strength After some investors expressed their uncertainty about Credit Suisse’s financial position last week.
The report said today (Oct. 7) that the redemption offer includes up to $980 million in euro and pound bonds, as well as up to $2 billion in US dollar bonds.
Credit Suisse faces confidence issues. Just a few weeks before the announcement of a major strategic review. After billions of dollars in losses Credit Suisse shares have lost more than half their market value this year.
Credit Suisse shares jumped 3.4 percent on the back of the bond buyback announcement. It was trading at 4.33 Swiss Francs at 09:23 Zurich time.
