Credit Suisse says 59.7% of series B convertible notes subscribed by existing shareholders By Reuters

May 6, 2021 admin Stock News 0

© Reuters. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at its headquarters in Zurich, Switzerland March 24, 2021. REUTERS/Arnd Wiegmann

ZURICH (Reuters) – Credit Suisse (SIX:) said on Thursday shareholders exercised preferential subscription rights for 532 million Swiss francs of Series B of two series of mandatory convertible notes, a take-up equaling 59.7% of the 891 million aggregate principal amount.

The Swiss bank announced the capital hike last month after the collapse of U.S. investment fund Archegos, and the demise of British finance firm Greensill, plunged it into crisis.  

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