The crisis-plagued Credit Suisse wants to dispel doubts about its financial health with a multi-billion dollar buyback of its own bonds. The major Swiss bank announced on Friday that it intends to buy back a total of 20 bonds with a total volume of up to three billion francs. The move aims to reduce the bank’s debt burden and regain investor confidence after stocks and bonds plummeted earlier in the week. On Friday, the shares rose a good four percent. However, central questions have not been resolved as to how far the strategic reorientation should be financed. The new bank boss Ulrich Körner promised details on October 27th.
Banks – Credit Suisse calms the market – Economy
