Credit Suisse increases buyback spend to retire $1.8bn of senior
Credit Suisse has increased the cap on its senior unsecured liability management exercise to buy back all the notes tendered by investors. The bank will remove $1.8bn of its debt from the market, spending just under $2.2bn by buying the bonds back at cash premiums of between 1.25 and 3.25 percentage points.
The bank targeted five senior bonds in the tender two due in 2016, one due 2019, one maturing in 2020 and one which redeems in 2032 which was announced two weeks ago as part of a swathe of measures intended to boost its solvency.
Last week it
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