Credit Suisse forges future of bank capital with $8.2bn Coco
Investors emphatically endorsed what could turn out to be the bank finance market’s most important deal since the fall of Lehman Brothers, supplying $8.2bn of buffer capital notes (BCNs) to Credit Suisse.
Appetite for the dual tranche private placement and Reg S deal was immense orders for the public issue alone exceeded $22bn from over 500 accounts.
This silenced market muttering that Cocos would need years to convince potential buyers. And investor approval came despite it being the riskiest high
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.