by Amruth Sundarkumar | Jun 20, 2022 | Banks
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...
by Amruth Sundarkumar | Jun 17, 2022 | Banks
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+...
by Amruth Sundarkumar | Jun 9, 2022 | Banks
Credit Suisse Group AG has warned of a third straight quarterly loss for Q2 2022. The group cites volatile markets as the primary reason, where widening credit spreads and a drop in bond issuance have been straining their key business lines. In addition, clients...
by Amruth Sundarkumar | May 31, 2022 | Banks
Credit Suisse is said to be in early stages to strengthen its capital after losses have impacted the company in recent quarters, as per sources. The anonymous sources note that the size of the increase is likely to exceed CHF 1bn ($1.04bn). The mode of raising capital...
by Amruth Sundarkumar | May 19, 2022 | Banks, Credit Ratings
Credit Suisse Group AG’s was downgraded to BBB+ from A- by Fitch with a stable outlook. Fitch notes that weak operating profitability compared with peers’ highlights the execution risk and the challenges for the bank to strengthen its performance over the next...
