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Sovereign Wealth Funds Briefing - Categorized | Asset Allocation

Credit Suisse exchanged $4.5 bln of Qatar notes to CoCos

Posted on 01 November 2013

Credit Suisse Group AG (CSGN), Switzerland’s second-biggest bank, said it exchanged $4.5 billion of notes held by the Qatar Investment Authority into debt that qualifies as capital under stricter rules.
The Zurich-based bank and Qatari sovereign wealth fund swapped the Tier 1 capital notes for contingent-convertible bonds on Oct. 23 in a transaction approved by Swiss financial regulator Finma, Credit Suisse said…………………………….Full Article: Source


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