Credit Suisse lifts lid on August supply with dollar AT1

By David Freitas
04 Aug 2020

Credit Suisse opened books on a new additional tier one (AT1) in the dollar market on Tuesday, as bankers predicted that other European issuers could bring follow-on supply in the currency.

Credit Suissewas looking to sell a perpetual non-call 6.5 year AT1 in Reg S/144A format, through its own investment bank. Initial price thoughts were in the 5.625% area.

Simon Adamson, head of financials research at CreditSights, estimated that fair value for the new AT1 was around 5.25%. 

He expected ...

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