Credit Suisse finds bond buyers

Credit Suisse said yesterday that major shareholders bought 64m of contingent convertible bonds not taken up by shareholders in its recent capital-raising. The Swiss bank’s shareholders soaked up SFr1.833bn (£1.19bn) of the instruments, which corresponds to a take-up rate of 96.6 per cent. The securities were backed by existing major investors such as Qatar and the Olayan Group, plus new investors including Norway’s pension fund Norges and Singapore-based Temasek.