Credit Suisse to buy back $3 billion debt to reassure investors

Credit Suisse on Friday said it will buy back up to 3 billion Swiss francs ($3 billion) of debt to reassure investors. The move trims the debt burden of the Switzerland-headquartered bank even as its shares touched a record low on October 3 to 3.52 Swiss francs ($3.7). The bank has lost about 60% of its market value this year.