11/14/2022 0 Comments Spotify password reset august 2016![]() ![]() The offer includes euro and pound sterling debt securities worth up to 1 billion euros ($980 million) and a separate offer for US dollar securities up to $2 billion. The debt buyback echoes a $5.4 billion offer made by Deutsche Bank AG in 2016 as markets pummeled the German lender, though the calming effect was short-lived. ![]() The debt repurchase plan is “a smart move, it builds confidence in the liquidity of the balance sheet and helps lower Credit Suisse’s funding costs,” said Filippo Maria Alloatti, head of financials credit at Federated Hermes Ltd. ![]() Chief Executive Officer Ulrich Koerner is due to detail the bank’s second strategy overhaul in a year at the end of this month, widely seen as a critical opportunity to restore faith in the lender after more than a year of losses and management missteps. The Zurich-based bank has suffered a tumultuous week as markets questioned its stability amid a broader sell-off. Credit Suisse shares and bonds rose in Friday trading, while the cost of insuring against default fell. The announcement is a signal of confidence, in that the bank has enough liquidity to take advantage of the recent slump in debt markets and scoop up its own debt at a discount. (Bloomberg) - Credit Suisse Group AG offered to buy back up to $3 billion of its own debt, in a move aimed at calming investor jitters ahead of the unveiling of a crucial strategy revamp. This content was published on Octo10:37 Octo10:37 ![]()
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