Market tension supercharges Credit Suisse buyback participation

25 Jul 2012

Credit Suisse achieved a higher than expected take-up for its any-and-all capital buyback, hitting a 32% participation rate across the 11 securities targeted and buying back around $2.05bn of bonds.

Participation was higher in the euro and sterling-denominated instruments, with many US dollar investors expressing a level of comfort with the name by choosing not to tender their bonds.

The tender — which is intended to tidy up Credit Suisse’s capital profile as part of a swathe of ...

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