by Amruth Sundarkumar | Mar 23, 2023 | Banks, Investment Grade Bonds
UBS came out with an offer to buyback €2.75bn ($3bn) of its bonds that were issued prior to its acquisition of Credit Suisse in an effort to allay fears over the risks of the deal. It made the offer for holders to tender the notes for cash at their respective re-offer...
by Arundhati Behera | Mar 21, 2023 | Financial Institution Bonds, Financial Institutions
A rare Credit Suisse (CS) Tier 2 CoCo (contingent convertible) bond topped our gainers list this morning, despite having similar trigger and write-down clauses as their AT1s that were wiped out the previous morning. The $2.5bn 6.5% bonds due August 2023, issued a...
by Arundhati Behera | Mar 17, 2023 | Financial Institution Bonds, Financial Institutions
Shortly after its stock and bonds plummeted on Wednesday, Credit Suisse announced that it will be exercising its option to borrow up to CHF 50bn ($54bn) from the Swiss National Bank to boost its liquidity. Credit Suisse also announced a tender offer of over $3bn to...
by Arundhati Behera | Mar 15, 2023 | Banks
Credit Suisse’s (CS) bonds took another beating on Tuesday following a 10-15% fall in its AT1 perps on Monday. Tuesday’s down move spread to its senior bonds as well, led by its 4.282% 2028s down 4.8 points to 77.63 currently, yielding 10.29%. This came...
by Arundhati Behera | Mar 10, 2023 | Banks, Perpetual Bonds
Credit Suisse’s perps fell by 1.5-2 points after it postponed the publication of its annual report following a last-minute call from the US SEC. The SEC raised questions regarding the group’s earlier financial statements. The SEC wanted to enquire into a...
