Credit Suisse Hires 20 Banks for $4 Billion Capital Increase (2)

Credit Suisse Group AG disclosed a large roster of banks that will help it drum up $4 billion in capital to fund its extensive restructuring and laid out more detail about the discounted price it will offer shareholders.

The Swiss bank said new investors led by the Saudi National Bank have already committed to contribute 1.76 billion francs ($1.76 billion). Existing shareholders will get the chance to buy new shares at 2.52 francs per share, in a capital raise that Credit Suisse hired about 20 banks to help complete.

Read also: Credit Suisse Announces Expected Terms for Capital Increase

Having ...