| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |

Bond Market News

Credit Suisse Raises $5bn Across EUR and USD Bond Issuances

Credit Suisse raised about $5bn via a multi-currency issuance across euro and dollar denominated bonds. It raised:

  • €3bn via a 6Y bond at a yield of 7.856%, 30bp inside initial guidance of MS+525bp area. The senior unsecured bonds are rated Baa2/BBB-/BBB by (Moody’s/S&P/Fitch) and received orders over €7.5bn, 2.5x issue size. The bond’s coupon rate was fixed at 7.75%, the second-highest ever for a new senior investment-grade rated bank deal in euros, as per Bloomberg.
  • $2bn via a 11NC10 bond at a yield of 9.016%, 27.5bp inside initial guidance of T+512.5bp area. The senior unsecured bonds are rated Baa2/BBB-/BBB by Moody’s/S&P/Fitch and received orders over $8bn, 4x issue size. The new bonds offer a new issue premium of ~43bp over its older 6.537% 2033s callable in August 2032 that currently yield 8.59%.

Proceeds will be used for general corporate purposes and the issuance marks the completion of Credit Suisse’s debt funding plans for the year and will count toward its TLAC requirements.

Related Posts:
Registered office: 8 Marina View, #43-062 Asia Square Tower 1, Singapore 018960
© Copyright BondbloX 2024, All Rights Reserved.