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Credit Suisse To Buy Back $6B In Qatar, Saudi Debt

by finance.yahoo.com posted 11months ago 125 views
Credit Suisse Group AG plans to buy back about 5.9 billion francs ($6 billion) of debt issued after the financial crisis to the Qatar Investment Authority and Saudi Arabia’s Olayan family to cut funding costs. The bank will redeem the contingent convertible bonds -- which automatically become equity when reserves fall below pre-set levels -- on Oct. 23, the first opportunity to do so, according to a statement from the bank on Tuesday.

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