Credit Suisse eyes $4bn capital raise to fund business restructuring

Valeria Martinez
clock • 2 min read

Credit Suisse intends to raise CHF4bn ($4.1bn) by selling shares to investors, including the Saudi National Bank, in a bid to fund its sweeping business restructuring.  The Swiss lender disclosed plans to spin off its capital markets and consulting business over the next three years under a revitalised CS First Boston name, as well as an agreement to sell its securitised products operation to US asset management giants Pimco and Apollo. The company overhaul coincided with a significant quarterly loss for Credit Suisse's investment bank as well as a rampant exodus of its wealthy client...

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