Breaking- Credit Suisse to buy back $3 billion of debt securities |

Credit Suisse (CSGN.S) said on Friday it has made an offer to repurchase up to 3 billion Swiss francs ($3 billion) of senior debt securities.

“The transactions are consistent with our proactive approach to managing our overall liability composition and optimizing interest expense and allow us to take advantage of market conditions to repurchase debt at attractive prices,” the bank said in a statement.

The lender said it was making a cash tender offer in relation to eight euro or pound sterling denominated senior debt securities for an aggregate consideration of up to 1 billion euros.

At the same time it was also making a cash offer to buy back 12 U.S. dollar denominated senior debt securities for an aggregate consideration of up to $2 billion.

The offers will expire on Nov. 3 and Nov. 10 respectively, subject to the terms and conditions set out in the offer documents, it added.

($1 = 0.9897 Swiss francs)

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