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Credit Suisse issues dollar tier-one, Reuters reports

Wednesday, July 28, 2010

Credit Suisse has issued a dollar-denominated tier-one bond – only the fourth tier-one issued by a European bank this year, Reuters reports. The bond is perpetual but with a redemption call possible after five years, says the article. Initial guidance on the issue was 8 to 8.25% percent, with an order book of around $3 billion.

The issue also has a regulatory call at par, which means the bank can redeem the bond if it no longer fits with bank capital rules.

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