Credit Suisse Group AG's shares advanced by 7% during Friday's trading session after the bank announced its plan to buy back its debt worth approximately $3 billion Swiss francs, or about $3 billion, offering thus some reassurance to investors.
The bank announced it is making two separate cash tender offers, one for eight euro or pound sterling-denominated senior debt securities in the value of up to €1 billion, and one for 12 United States dollar-denominated senior debt securities in the value of up to $2 billion.
Credit Suisse's shares rose by 6.62% at 1:17 pm CET to sell for 4.4960 Swiss francs per share.
