Credit Suisse reportedly ditched Evergrande exposure late last year

Author: Justin Low | Category: News

The once top underwriter of Evergrande bonds, is said to have wound down its entire exposure to the troubled Chinese property developer

This, according to people familiar with the situation as cited by the Financial Times.

It is reported that Credit Suisse has not underwritten any debt related to Evergrande for two years after becoming worried about the company's financials. Adding that Credit Suisse decided to sell its residual exposure because "it didn't like what it was seeing".

As such, the financial firm has informed investors and clients that any impact arising from the whole Evergrande episode towards the institution will be rather minimal.

I reckon this is more to do with trying to prove a point after the whole Archegos Capital fiasco, in which the firm suffered a more than CHF 600 million loss in Q2.

Invest in yourself. See our forex education hub.
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose