CS Treasury lifts the lid on landmark Coco deal

In February 2011, Credit Suisse blew open the doors of the contingent capital market, presenting the market with $8.2bn of buffer capital notes through a dual tranche private placement and a public issue. The trade was seen as a pivotal moment for the Coco market, appearing to silence those doubters who had said it would take years for the asset class to grow. In an exclusive interview, EuroWeek spoke to Kim Fox-Moertl, head of capital management in Credit Suisse’s group treasury, and to Rolf Enderli, Group Treasurer, about the deal’s origins and structure, the challenges it posed and its impact on the future of the contingent capital market.