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REFILE-Credit Suisse says arranged but did not sell BES securities
August 19, 2014 / 8:57 AM / 3 years ago

REFILE-Credit Suisse says arranged but did not sell BES securities

(Corrects story keywords to PORTUGAL-BES/CREDITSUISSE; also repeats to additional Reuters clients)

ZURICH, Aug 19 (Reuters) - Credit Suisse on Tuesday confirmed it arranged securities on behalf of Banco Espirito Santo SA, but said that it had not sold or advised any clients or affiliates of the crisis-hit Portuguese bank to buy them.

“Credit Suisse has no visibility as to any onward distribution by the Banco Espirito Santo branches or subsidiaries,” the Swiss bank said in a statement.

The Wall Street Journal reported on Sunday that the Zurich-based bank helped assemble billions of dollars in securities that were issued by offshore investment vehicles of BES and then sold to the Portuguese bank’s retail customers. (Reporting by Joshua Franklin; Editing by David Holmes)

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