The collapse and takeover of Credit Suisse by UBS is sending shockwaves through a US$245 billion asset market. The Swiss government’s decision to write down US$17 billion in Credit Suisse Additional Tier-1 (AT1) bonds, while allowing equity holders to be compensated as part of the deal, has been viewed in some quarters as upending the traditional capital structure. As a…
Credit Suisse AT1 fallout: Who’s exposed in this US$245bn market?
By Twinkle Sparta, associate editor | 24 March 2023
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