The bond announcement sends a message to investors that Credit Suisse is not overly worried about conserving cash.Īnalysts have rushed to dig through the bank’s books after social media rumors stoked questions about whether it has sufficient capital to withstand deep losses or to deal with a sudden shock. They’re still down almost 50% year-to-date. They rallied sharply on Friday, jumping 6% in morning trading in Zurich.
Shares plunged to a record low earlier this week but have since recovered. The announcement on Friday comes after investors displayed concerns about the financial position of the troubled Swiss bank before it announces its restructuring plan later this month.
(CS) said it will buy back up to $3 billion in its own bonds to save money on debt servicing costs while taking advantage of low prices.
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