Credit Suisse to buy back $4.4 billion of securities

Credit Suisse said on Monday it planned to buy back up to 4 billion Swiss francs ($4.4 billion) in outstanding securities in a bid to comply with the new Swiss and Basel III global capital adequacy rules. The tender was for public Tier 1 and Tier 2 instruments, Credit Suisse said.
"Credit Suisse continues to take a proactive approach to satisfy the new capital requirements, aimed at transitioning its capital structure well in advance of the required implementation dates," Chief Financial Officer David Mathers said in a statement.