This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Credit Suisse Nears Sale of SPG Unit to Apollo, PIMCO
October 27, 2022
Credit Suisse is said to have neared the sale of its Securitized Products Group (SPG) to Apollo Global Management and PIMCO, as per WSJ sources. They noted that the further details and several other strategic measures taken by the bank will be revealed in its strategic review update alongside its earnings release today. As per WSJ, the consortium including Pimco and Apollo beat the other bidding group consisting Centerbridge Partners and Martello Re Ltd. The Swiss bank has been on the search for buyers of many of its businesses in an effort to revise its strategy and raise capital.
CS’s USD 9.75% Perp was trading 0.2 points lower to 96.79, yielding 10.64% to call.
Go back to Latest bond Market News
Related Posts:
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.