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Credit Suisse says 59.7% of series B convertible notes subscribed by existing shareholders

FILE PHOTO: Logo of Swiss bank Credit Suisse is seen in Zurich

ZURICH (Reuters) – Credit Suisse said on Thursday shareholders exercised preferential subscription rights for 532 million Swiss francs of Series B of two series of mandatory convertible notes, a take-up equaling 59.7% of the 891 million aggregate principal amount.

The Swiss bank announced the capital hike last month after the collapse of U.S. investment fund Archegos, and the demise of British finance firm Greensill, plunged it into crisis.  

(Reporting by Silke Koltrowitz; Editing by Chris Reese)

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