Credit Suisse Raises Switzerland’s First Dollar Covered Bonds

Credit Suisse Group AG raised $1 billion in the first sale of covered bonds in the currency from a Swiss bank.

Switzerland’s second-biggest lender sold five-year AAA rated notes backed by prime Swiss mortgages, according to a banker involved in the transaction, who declined to be identified because the information is private. The 2.6 percent debt paid a spread of 83.2 basis points more than similar-maturity Treasuries, according to data compiled by Bloomberg.