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+...
Credit Suisse Warns of Third Straight Quarterly Loss; State Street Takeover Speculated
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...
