by Amruth Sundarkumar | Nov 29, 2022 | Banks, Global
November 29, 2022: Credit Suisse CDS Jumps 57bp to Cross 400bp; Dollar Bonds Drop 1-2 Points Troubled Swiss lender Credit Suisse’s CDS spreads jumped by over 57bp to cross the 400bp mark yesterday and its dollar perps also dropped by over 2 points. The move...
by Amruth Sundarkumar | Nov 25, 2022 | Banks
Credit Suisse has issued 889mn in new shares to existing investors at CHF 2.52/share ($2.67) in a planned CHF 2.24bn ($2.37bn) equity raise as part of its broader CHF 4bn ($4.2bn) capital hike. It confirmed that it issued 462mn new shares to qualified investors via a...
by Amruth Sundarkumar | Nov 24, 2022 | Banks, High Yield Bonds
Credit Suisse has warned that it expects to make a CHF 1.5bn ($1.6bn) loss in 4Q 2022. The Swiss bank said that wealthy clients have made hefty withdrawals which has lead to a big drop in liquidity, breaching some regulatory limits. Credit Suisse said there had been...
by Amruth Sundarkumar | Nov 18, 2022 | Banks, China
Regulators have asked banks to report on their ability to make good on short-term dues amid a recent surge in wealth management product (WMP) redemptions faced by Chinese lenders. Wealth management units of banks are trying to calm investors after their local bonds...
by Amruth Sundarkumar | Nov 16, 2022 | Banks
Credit Suisse has finalized selling most of its Securitized Products Group (SPG) and related financing businesses to Apollo Global Management. While the selling price of the SPG unit was not disclosed, Credit Suisse said that Apollo would pay a premium and the deal...
by Amruth Sundarkumar | Nov 10, 2022 | Banks, Financial Institution Bonds, Financial Institutions
Credit Suisse raised about $5bn via a multi-currency issuance across euro and dollar denominated bonds. It raised: €3bn via a 6Y bond at a yield of 7.856%, 30bp inside initial guidance of MS+525bp area. The senior unsecured bonds are rated Baa2/BBB-/BBB by...
