Tags: Credit | Suisse | Arabian | Investors

Credit Suisse Raises $6.1 Billion From Arabian Investors

Monday, 14 February 2011 07:31 AM EST

Swiss bank Credit Suisse Group says it is raising some $6.1 billion from Arabian investors to satisfy new capitalization rules.

Credit Suisse says it is issuing contingent capital notes worth $3.5 billion to Qatar Holding LLC and notes worth 2.5 billion Swiss francs ($2.57 billion) to Saudi Arabia's The Olayan Group.

The Zurich-based bank says the move would satisfy emergency capital requirements proposed by Swiss regulators.

It said Monday the notes can be redeemed after Oct. 2013.
Qatar's sovereign wealth fund already holds more than 6 percent of Credit Suisse's shares.

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Headline
Swiss bank Credit Suisse Group says it is raising some $6.1 billion from Arabian investors to satisfy new capitalization rules. Credit Suisse says it is issuing contingent capital notes worth $3.5 billion to Qatar Holding LLC and notes worth 2.5 billion Swiss francs ($2.57...
Credit,Suisse,Arabian,Investors
91
2011-31-14
Monday, 14 February 2011 07:31 AM
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