Yes Bank Nears $1bn Capital Raise from Carlyle, Advent
Yes Bank is close to successfully negotiating a $1bn equity fundraise from private equity firms Carlyle Group and Advent International. Talks had been slow initially because the Indian bank was running an asset reconstruction company (ARC) deal to offload INR 490bn...
Credit Suisse’s 7.125% Perp Jumps to Par Ahead of Call Date After Pricey AT1 Issuance
Credit Suisse’s USD 7.125% Perp jumped from 96 cents on the dollar to par. The move comes after the company raised $1.65bn via a 9.75% PerpNC5.5 AT1 last week to call back the $1.5bn 7.125% Perps. The 7.125% Perp is callable on July 29 and if not called, the...
Credit Suisse Prices $1.65bn PerpNC5.5 AT1 at 9.75%
Credit Suisse raised $1.65bn via a PerpNC5.5 AT1 bond at a yield of 9.75%. The bonds were launched at an initial guidance of 9.75% area. The junior subordinated notes are rated B+/BB (S&P/Fitch), lower than the issuer’s ratings of Baa1/BBB/BBB+...
Yes Bank Seeks Shareholders’ Approval for ~$1.3bn Debt Raise
Yes Bank will seek an approval from its shareholders in July to raise debt INR 100bn ($1.3bn) via a private placement. Among the several private placement options it is considering are the issuance of non-convertible debentures (NCDs), medium term bonds, possible Tier...
