Switzerland's national flags fly beside the logo of Swiss bank Credit Suisse in Zurich, Switzerland April 24, 2017. REUTERS/Arnd Wiegmann
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Credit Suisse Group AG plans to buy back about 5.9 billion francs ($6 billion) of debt issued after the financial crisis to the Qatar Investment Authority and Saudi Arabia's Olayan family to cut funding costs.CEO Tidjane Thiam is refocusing the bank as new regulations after the financial crisis – including higher capital requirements – forced it to abandon the investment bank-led strategy.The Qatar Investment Authority – the Persian Gulf nation's sovereign wealth fund – owns about 5.1 percent of Credit Suisse, making it the bank's top shareholder.The two were among investors that Credit Suisse tapped for 10 billion francs in Oct. 2008 .
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