Bloomberg Law
May 26, 2023, 7:23 AM

Pimco Weighs Joining Investors Suing Over Credit Suisse AT1s (1)

Laura Benitez
Laura Benitez
Bloomberg News

Pacific Investment Management Co. is considering joining hundreds of investors in challenging the Swiss regulator’s decision to wipe out about $17 billion of Credit Suisse Group AG bonds following the bank’s takeover by UBS Group AG.

Pimco, which filed a suit against Finma in order to meet an early May deadline for such submissions, has not yet joined any of the bondholder groups, according to a person familiar with the situation.

The firm is weighing whether to potentially pursue legal action to recoup some of its $800 million of Credit Suisse’s so-called Additional Tier 1 bonds, according to people familiar ...

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