Credit Suisse Greensill Fund Holders Face More Losses (Correct)

April 27, 2021, 3:48 PM

Investors in the Credit Suisse Group AG funds that invested in assets sourced by Greensill Capital may face a further $190 million loss on their holdings.

A discount of roughly 7% will be applied to notes on a book of around $2.8 billion loans held in the funds, adding to potential losses stemming from troubled borrowers such as SoftBank Group Corp.-backed Katerra, U.S. coal miner Bluestone Resources and Sanjeev Gupta’s GFG Alliance, according to a statement from the Swiss lender.

The bank didn’t identify the creditors that may not fully repay the loans. It hired an advisory firm to ...

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