Credit Suisse announced it would borrow up to 50 billion Swiss francs from the Swiss National Bank in a move to strengthen its liquidity amid dwindling stock prices.
Credit Suisse also announces today that it is making a cash tender offer in relation to ten US dollar denominated senior debt securities for an aggregate consideration of up to USD 2.5 billion.
Concurrently, Credit Suisse is also announcing a separate cash tender offer in relation to four Euro denominated senior debt securities for an aggregate consideration of up to EUR 500 million.fears that the lender would suffer the same fate as Silicon Valley Bank or Signature Bank.the problems of “certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets.”
“There are no indications of a direct risk of contagion for Swiss institutions due to the current turmoil in the US banking market,” the statement added.
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