Credit Suisse CoCo garners less demand than expected

08/26/2013 | Reuters

Credit Suisse has sold about half as much as targeted of a contingent-capital bond. "We had good attendance at the road show in Zurich and Geneva on Monday, with around 80 attendees in total," said Dominique Kunz, head of Swiss debt capital markets. "Feedback at the time was very positive, but when the market tanked on Tuesday, some of that demand fell away. With 90 orders from pretty much every private bank in the country, we saw good breadth of demand despite challenging market conditions."

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