Qatar fund holds 6% Credit Suisse stake due to convertible notes - filing

Qatar fund holds 6% Credit Suisse stake due to convertible notes - filing




FILE PHOTO: The trademark of land slope Credit Suisse is seen at its duty in Zurich, Schweiz June 22, 2020. REUTERS/Arnd Wiegmann/File Photo



DUBAI (Reuters) – peninsula Investment Authority (QIA) wager in Credit Suisse is 6%, higher than primeval estimated, after it subscribed to digit redeemable notes, which module be regenerate into shares after this year, according to a restrictive filing.


The newborn filing with the U.S. Securities and Exchange Commission shows the Arab money was among the investors who subscribed to Credit Suisse’s top upbringing in Apr when the land pledgee issued dominion redeemable notes.


Stock mercantilism accumulation ease shows QIA’s wager of 4.84%, still the wager rises to 6.01% if the convertibles are condemned into account, the newborn filing shows.


Credit Suisse in Apr said the dominion redeemable notes module be regenerate upon sextet period maturity, but they could be person to primeval transmutation upon the event of destined events.


Credit Suisse has upraised capital, halted deal buybacks, revilement its dividend and revamped direction after losing more than $5 1000000000 from the founder of kinsfolk duty Archegos and suspending assets linked to Greensill.




Reporting by Saeed Azhar, redaction by Louise Heavens






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Qatar money holds 6% Credit Suisse wager cod to redeemable notes – filing




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Qatar fund holds 6% Credit Suisse stake due to convertible notes - filing

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