Credit Suisse Group takes decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities

Credit Suisse Group takes decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities

From credit-suisse.com

Credit Suisse is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option to borrow from the Swiss National Bank (SNB) up to CHF 50 billion under a Covered Loan Facility as well as a short-term liquidity facility, which are fully collateralized by high quality assets. Credit Suisse also announces offers by Credit Suisse International to repurchase certain OpCo senior debt securities for cash of up to approximately CHF 3 billion. Credit Suisse announces its intention to access the SNB’s Covered Loan Facility as well as a short-term liquidity facility of up to approximately ... (full story)

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Comment #1
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Mar 16, 2023 6:13am Mar 16, 2023 6:13am

RossEdwards
Joined Jun 2019 | Status: Member | 3299 Comments

Interesting ..the push back from SNB was pretty serious..so glad they moved fast to neutralize..
Despite CS's baggage .. this development has sharply rallied share price.. and helped Euro stoxx Banks rally too. watchlist item.

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Comment #2
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Mar 16, 2023 6:54am Mar 16, 2023 6:54am

rover99x
| Joined Sep 2009 | Status: Member | 151 Comments

Credit Suisse has been sailing close for a few years now, the SNB had to do something after Saudi dropped support. I guess they'll be taken over by UBS or someone similar within the next few weeks or months. Will this be the end of the banking crises, one wonders. I suspect not!

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Posted: Mar 15, 2023 11:20pm
Submitted by:
Newsstand

Category: Fundamental Analysis

Comments: 2 / Views: 1,180

Credit Suisse Group takes decisive action to pre-emptively strengthen liquidity and announces public tender offers for debt securities

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