Credit Suisse to Repurchase Certain OpCo Senior Debt Securities for Cash

​Credit Suisse Group AG announces offers by Credit Suisse International to repurchase certain OpCo senior debt securities for cash up to approximately CHF 3 billion.

Credit Suisse announces recently that it is making a cash tender offer in relation to eight euro or pound sterling denominated senior debt securities for an aggregate consideration of up to EUR 1 billion. Concurrently, Credit Suisse is also announcing a separate cash tender offer in relation to twelve US dollar denominated senior debt securities for an aggregate consideration of up to USD 2 billion. Both offers are subject to various conditions as set out in the respective tender offer memoranda. The offers will expire on November 3, 2022 and November 10, 2022 respectively, subject to the terms and conditions set out in the offer documents.

The transactions are consistent with Credit Suisse' proactive approach to managing the overall liability composition and optimizing interest expense and allow the organization to take advantage of market conditions to repurchase debt at attractive prices.

Source: Credit Suisse