Credit Suisse captures capital imagination with $18bn book

By Tom Porter
06 Dec 2013

Credit Suisse pulled in over $18bn of orders for its perpetual non-call 10 year tier one transaction, driving the bonds sharply higher in the secondary market and fuelling confidence that demand for financials’ higher yielding securities is growing at a rapid pace.

The $2.25bn bond, which was priced at 7.5% in the US on Wednesday, traded up as high as 103.75 in cash terms before falling slightly to around 103.625 on Thursday.

The overwhelming demand followed a €12bn book gathered by Barclays for only the second euro-denominated additional tier ...

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