Tasos Vossos

Among the biggest losers in the shotgun sale of Credit Suisse Group AG are investors in the firm’s riskiest bonds, known as AT1s, worth $17 billion.

Die Inhaber der riskantesten nachrangigen Anleihen der Credit Suisse Group AG haben einen historischen Verlust erlitten. Mit der Übernahme durch die UBS Group AG wurden sogenannte Additional-Tier-1-Anleihen (AT1) im Wert von rund 16 Milliarden Franken für wertlos erklärt.

One junior bond issued by a Credit Suisse entity a decade ago seems to have escaped a wipeout of the lender’s riskiest notes as part of UBS Group AG’s takeover.

A tier 2 subordinated bond by Deutsche Bank AG is surging toward face value on Friday after the lender unexpectedly announced its decision to redeem the note early.

The $256 billion market for additional tier 1 debt is still reeling from Credit Suisse Group AG’s debt wipeout.

The majority of Europe’s highest-rated real estate companies are looking like junk.

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Investors are calling for Switzerland to overhaul its rules on Additional Tier 1 bonds, arguing that the market will stay closed unless regulations are brought in line with the rest of Europe.

A major buyer of securities issued by US banks to bolster capital is cutting exposure to regional issuers due to concerns about their ability to quickly recover from the current stress.

Societe Generale SA is asking bondholders of around $2.2 billion in subordinated debt it issued under English law to add bail-in clauses to the notes, in a move to align with European Union regulations after Brexit.