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Credit Suisse five-year credit default swaps fall after debt buyback plan

Europe Materials 7 October 2022 14:30 (UTC +04:00)
Credit Suisse five-year credit default swaps fall after debt buyback plan

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, Trend reports with reference to Reuters.

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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