Bloomberg: Credit Suisse Exits Distressed-Debt Trading as Bank Cuts Risk
- Portfolio valued at $250 million has up to 30 positions
- Credit Suisse getting out of risky, capital-intensive activity
By Giulia Morpurgo, Lucca De Paoli, Laura Benitez & Marion Halftermeyer
February 15, 2023
The bank is selling a book of assets including bond and loan positions related to distressed companies, with a market value of about $250 million, according to people with knowledge of the matter. Final commitments from bidders are due this week after the portfolio was put up for sale in December, said the people, who asked not to be named as the details are private.