MarketCredit Suisse begins buying back bonds

Credit Suisse begins buying back bonds

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The ailing large Swiss bank Credit Suisse is looking for a new strategy after losing billions of dollars. He wants to buy back the bonds to regain investor confidence.


Struggling with the crisis, Credit Suisse is looking to allay doubts about its financial health by repurchasing billions of dollars in debt securities. The major Swiss bank announced on Friday that it plans to buy back a total of 20 bonds with a total volume of up to three billion francs.

The move is aimed at reducing the bank’s debt burden and regaining investor confidence after the decline in stocks and bonds earlier in the week.

Read more about turbulence at Credit Suisse here:

Credit Suisse: details of the transformation at the end of October

Rating agency S&P said Thursday evening there were “increasing risks” to the bank. After billions of losses, Credit Suisse is undergoing an extensive restructuring. However, it only wants to reveal details when the third-quarter figures are presented on October 27.

Credit Suisse justifies the repurchase of debt securities at “attractive prices”. He wants to optimize his interest payments. According to analysts, taking this step signals that he has the necessary funds and believes stock prices are too low.

Source: ZDF

Harold
Harold
I'm Harold O'Connor and I work as an author and editor for News Unrolled, a news website dedicated to delivering the latest world events. With my in-depth research skills, passion for news writing, and keen eye for detail, I strive to provide readers with accurate information on current affairs from around the globe.

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