Goldman Sachs prepares claims trading for wiped out Credit Suisse debt – Bloomberg News
2023.03.19 23:17
© Reuters. FILE PHOTO: The logo for Goldman Sachs is seen on the trading floor at the New York Stock Exchange (NYSE) in New York City, New York, U.S., November 17, 2021. REUTERS/Andrew Kelly
(Reuters) – U.S. bank Goldman Sachs Group Inc (NYSE:) traders were preparing to take bids on claims against Credit Suisse Group’s riskiest bonds, Bloomberg News reported on Sunday, citing people familiar with the matter.
Clients were told in a message late Sunday that the New York-based bank would soon start trading claims in the so-called additional tier 1 bonds, or AT1s, according to the report.
The Swiss lender’s additional tier 1 shares with a nominal value of around 16 billion Swiss francs ($17.24 billion) will be written down completely after the Swiss government provided support for UBS’ takeover of Credit Suisse.
Goldman did not immediately respond to a Reuters request for comment.
