by Amruth Sundarkumar | Apr 21, 2023 | Banks
Credit Suisse’s $17bn AT1 write-off is now seeing more court challenges by bondholders in Swiss courts. This comes on the heels of news that some holders of its AT1s from Singapore were seeking to sue the Swiss government regarding unique protections they should...
by Amruth Sundarkumar | Apr 18, 2023 | Banks, Financial Institutions, Perpetual Bonds
Some holders of Credit Suisse’s AT1 bonds from Singapore are seeking to sue the Swiss government regarding unique protections they should have received regarding the historic write-off. BT reports that a group of 30 investors are in talks with law firms...
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...
