Credit Suisse in a Transatlantic Bond Issuing Frenzy

Credit Suisse in a Transatlantic Bond Issuing Frenzy: After selling bonds in the US yesterday to raise additional cash, Credit Suisse is today tapping the UK bond markets for more, according to media reports. EnglishNews

Yesterday, Credit Suisse via its New York branch, sold placed $3.75 billion worth of two-year and five-year bonds, once again at eye-watering yields, which came amidst several bond sales as borrowers look to lock in favorable rates should conditions worsen.

The spread over 10-year U.S. Treasury bonds at 370 basis points is well above the average risk premiums for investment-grade bonds, the Bloomberg story added. Today, Credit Suisse is selling new sterling-denominated bonds in the UK, according to «Reuters» which cited a memo made available to the news outlet. It said there was strong investor demand for the issue which will price later today.

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