The Turbulent World of Credit Suisse's CoCo Bonds.
TL;DR Summary
Hedge funds that bet on the rescue deal of Credit Suisse by buying its bonds face mixed results, with some trades set to make money and others set to lose money. Swiss regulators approved a deal for the bank to be bought by its domestic rival UBS, with Credit Suisse's AT1 bonds being wiped out as part of the deal. The acquisition is seen as an emergency rescue, with UBS shareholders benefiting from the deal while Credit Suisse shareholders receive one UBS share for every 22.48 Credit Suisse shares held.
- Hedge Funds That Bet on Credit Suisse Rescue Face Uneven Results The New York Times
- Analysis | Why $17 Billion in Credit Suisse 'CoCos' Got Wiped Out in UBS Takeover The Washington Post
- Why Credit Suisse 'CoCo' bonds are causing so much anxiety The Straits Times
- Analysis | Why Credit Suisse 'CoCo' Bonds Are Causing So Much Anxiety The Washington Post
- View Full Coverage on Google News
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