Credit Suisse: steps to strengthen liquidity
(CercleFinance.com) - Credit Suisse is taking decisive steps to preemptively strengthen its liquidity by intending to exercise its option to borrow up to 50 billion Swiss francs from the Swiss National Bank (SNB) under a covered loan facility, as well as a short-term liquidity facility, which are fully collateralised by high quality assets.
Credit Suisse also announces offers by Credit Suisse International to repurchase certain senior debt securities of OpCo for up to 3 billion Swiss francs or so in cash.
Credit Suisse announces its intention to access the SNB's covered loan facility and a short-term liquidity facility of up to approximately 50 billion Swiss francs in all.
This additional liquidity would support Credit Suisse's core business and clients.
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Credit Suisse also announces offers by Credit Suisse International to repurchase certain senior debt securities of OpCo for up to 3 billion Swiss francs or so in cash.
Credit Suisse announces its intention to access the SNB's covered loan facility and a short-term liquidity facility of up to approximately 50 billion Swiss francs in all.
This additional liquidity would support Credit Suisse's core business and clients.
Copyright (c) 2023 CercleFinance.com. All rights reserved.