Credit Suisse finds window for record low AT1 print

Tyler Davies

December 03, 2020 05:00 pm

Credit_Suisse_PA_575x375_021220 — A sign for the New York headquarters of Credit Suisse on Madison Ave. on Saturday, December 27, 2014. Credit Suisse Group AG and Deutsche Bank AG have agreed to a settlement of $12.5 billion between the two banks resolving DoJ investigations into their alleged culpability in the financial crisis. (Photo by Richard B. Levine) *** Please Use Credit from Credit Field *** | Richard B. Levine/SIPA USA/PA Images

Credit Suisse took advantage of a ferocious rally in subordinated debt to land its lowest ever coupon for an additional tier one (AT1) in dollars this week. The deal was also the Swiss bank’s debut use of Sofr to hedge interest rate risk on new issuance.

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Topics

Credit Suisse EMEA Switzerland Bank Capital Asia Pacific Europe Regulatory Capital FIG Asia

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Tyler Davies