Holders of $17bn of Credit Suisse bonds will have their investment wiped out following the bank’s takeover by UBS, in a surprise move that is expected to cause ructions in European debt markets when they open on Monday.
As part of the historic deal between the banks, Swiss financial regulator Finma ordered that SFr16bn of Credit Suisse’s additional tier one (AT1) bonds, a relatively risky class of bank debt, will be written down to zero
Credit Suisse said it was informed of the decision by the regulator as it thrashed out the final details of its SFr3bn takeover by UBS, which was announced on Sunday evening after several days of intense negotiations.
您已閱讀22%（656字），剩余78%（2312字）包含更多重要信息，訂閱以繼續探索完整內容，并享受更多專屬服務。