Credit Suisse gets PB treatment

摘要

CREDIT SUISSE GROUP, rated Baa2/A-/BBB+, last week made significant savings on funding costs with an eagerly received sale of S$750m (US$542.4m) perpetual non-call five bonds, its first ever deal in Singapore. The subordinated notes, which qualify as Additional Tier 1 capital, were priced last Wednesday at 5.625% off an order book of over S$2.7bn from 118 accounts - the largest book for a foreign bank's AT1 offering since HSBC Holdings attracted more than S$6.5bn for its S$1bn perpetual bond issue in June 2017.