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Credit Suisse offers to repurchase debt worth about 3,000 million

MADRID, 7 Oct.

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Credit Suisse offers to repurchase debt worth about 3,000 million

MADRID, 7 Oct. (EUROPA PRESS) -

Credit Suisse Group has announced this Friday a series of offers through Credit Suisse International to repurchase certain senior debt securities and an amount in cash of up to approximately 3,000 million Swiss francs (3,028 million euros).

Specifically, the entity is making a cash takeover bid for eight senior debt securities denominated in euros or pounds sterling for a total consideration of up to €1,000 million.

At the same time, Credit Suisse is also announcing a separate all-cash tender offer for 12 US dollar-denominated senior debt securities for a total consideration of up to $2 billion (€2,028 million).

The offers will expire on November 3, 2022 and November 10, 2022, respectively, and will be subject to the terms and conditions set forth in the offer documents.

"The transactions are consistent with our proactive approach to managing our overall liability mix and optimizing interest expense and allow us to take advantage of market conditions to repurchase debt at attractive prices," the bank explained.

Keywords:
CREDIT SUISSE