Credit Suisse Five-Year Credit Default Swaps Fall After Debt Buyback Plan

(MENAFN- Trend News Agency)

The cost of insuring exposure to debt issued by Credit Suisse dropped on Friday after the Swiss lender said it would buy back up to 3 billion Swiss francs ($3 billion) of debt, reports with reference to .

Credit Suisse's five-year credit default swaps (CDS) fell 42 basis points from Thursday's close to 308 bps, data from S&P Global Market Intelligence showed.

Shares in the bank rose by 3% on the day to their highest since Sept. 23, while the price of Credit Suisse's bonds also ticked higher, reflecting a degree of relief among investors.


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