Credit Suisse announces formal guidance on US dollar CoCo
LONDON, Dec 4 (IFR) - Credit Suisse has formally opened books on a new US dollar contingent capital (CoCo) bond at 7.5%, according to a market source.
The Swiss bank had initially tested investor interest for the Additional Tier 1 instrument at 7.75% area earlier on Wednesday morning.
Credit Suisse is sole bookrunner on the perpetual non-call 10-year RegS/144a deal. Barclays, ING, Lloyds Bank, Natixis and Wells Fargo are joint lead managers.
Pricing is expected later today. (Reporting by Aimee Donnellan, editing by Julian Baker)
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