Credit Suisse Offering Set to Sail Through After Wild Ride
- Arranger banks expect take up of more than 90% of stock
- Shares had sunk to near rights issue price last week
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Banks handling Credit Suisse Group AG’s rights offer expect nearly all of those rights to be exercised, spelling success for a capital raise that looked shaky as recently as last week.
Lenders arranging the deal currently expect investors to take up well above 90% of the stock on offer, the people said, asking not to be identified because the information is private. The banks don’t currently anticipate needing to hold a sizeable amount of Credit Suisse stock on their books afterwards, according to the people.