Credit Suisse Group AG CS said it is taking decisive action to pre-emptively strengthen its liquidity by intending to exercise its option lend Swiss National Bank (SNB) up to 54 billion US dollars (50 billion Swiss francs).

Borrowing would be under a covered credit facility and a short-term liquidity facility fully collateralised by high-quality assets.

Also read: The best penny stocks

Middle: Credit Suisse also highlighted offers from Credit Suisse International repurchase certain senior debt instruments of OpCo for up to $3.22 billion in cash.

Credit Suisse also announced that it is making a cash offer for ten US dollar-denominated senior debt securities totaling up to US$2.5 billion.

The Lender is also announcing a separate cash offering in respect of four Euro-denominated Senior Notes for an aggregate consideration of up to €500 million.

Price promotion: NYSE-listed Credit Suisse shares closed 13.94% lower on Wednesday after its biggest shareholder ruled out further funding support, but gained 5.56% in extended trading at the time of writing. According to reports, the Saudi National Bank said regulatory guidelines not allow investing in more than 10% of a company.

Credit Suisse had previously asked the Swiss National Bank for assistance and requested a similar response from Swiss regulator Finma.

“These actions demonstrate decisive action to strengthen Credit Suisse as we continue our strategic transformation to deliver value to our clients and other stakeholders,” said the CEO Ulrich Korner. “My team and I are committed to moving fast to deliver a simpler and more customer-focused bank,” he said.

Continue reading: Tesla, Meta, Thermogenesis, Adobe, UiPath: Why These 5 Stocks Are Capturing Investors’ Attention Today