Bloomberg Law
March 18, 2023, 8:21 PM

Credit Suisse Bonds Gain During Weekend Session Amid UBS Talks

Reshmi Basu
Reshmi Basu
Bloomberg News
Giulia Morpurgo

As Swiss officials and UBS Group AG raced to put together a deal for the takeover of Credit Suisse Group Inc., bonds of the embattled lender rose in a rare weekend trading session.

One large dealer was quoting Credit Suisse bonds at levels that were as much as 6.5 points higher than Friday, according to a person with knowledge of the matter, who asked not to be identified discussing private activity in the over-the-counter market.

A merger of UBS Group AG with Credit Suisse Group AG is “plan A” for Swiss regulators seeking to shore up confidence in the nation’s banking system, the Financial Times reported. Bloomberg’s Kailey Leinz and Sonali Basak report on “Balance of Power.”
Source: Bloomberg

The bank’s $2.5 billion of senior unsecured bonds due in 2028 were up 6.5 cents on the dollar to a bid price of 99 ...