Credit Suisse Fund Investors Face More Losses On Greensill Loans

by finance.yahoo.com posted 4months ago 25 views
(Bloomberg) -- Investors in the Credit Suisse Group AG funds that invested in assets sourced by Greensill Capital may face a further $190 million loss on their holdings.A discount of roughly 7% will be applied to notes on a book of around $2.8 billion loans held in the funds, adding to potential losses stemming from troubled borrowers such as SoftBank Group Corp.-backed Katerra, U.S. coal miner Bluestone Resources Inc. and Sanjeev Gupta’s GFG Alliance, according to a statement from the Swiss lender.The bank didn’t identify the creditors that may not fully repay the loans.