Feb. 14 (Bloomberg) -- Credit Suisse Group AG said it’s issuing about 6 billion Swiss francs ($6.17 billion) of Tier-1 buffer capital notes to Qatar Holding LLC and The Olayan Group to satisfy new Swiss capital-adequacy rules under the “too-big-to-fail” regime.
“We have worked in close cooperation with our primary regulator, Finma, to ensure that the buffer capital notes will qualify under the future Swiss capital rules as contingent capital,” Chief Executive Officer Brady Dougan said today in an e-mailed statement. The notes are to be paid no earlier than October 2013 in cash or in exchange for Tier 1 capital notes issued in 2008.
EQUITIES: *UBS Says Sally Bott Leaving Immediately for Another Company *Swisscom Discussing Timing of Scherrer Departure, Loosli Arrival *Sulzer Starts Acquisition Talks, Chief Buechner Tells Le Temps *Credit Suisse Investment Bank Pipeline ‘Well Filled,’ F&W Says *Zurich Confident It Could Raise Acquisition Funds, Finanz Says *AFG to Name New Chief Executive by March, Oehler Tells NZZ *SNB Has Profit of 10 Billion Francs, SonntagsZeitung Says *Kuoni Had 2010 Sales of 4 Billion Francs, SonntagsZeitung Says
ECONOMY/POLITICS/GENERAL: *WikiLeaks Cables on Switzerland to Be Published, Le Temps Says *Switzerland to Respond to OECD Banking Critiques, Temps Says *Switzerland Freezes Mubarak Assets to Thwart ‘Misappropriation’ *WTO’s Lamy Says Countries Agree on 80% of Issues, Matin Says
MARKETS: *The SMI gained 0.8 percent to close at 6,665.22 *The SPI rose 0.8 percent to close at 5,984.07 *The Stoxx Europe 600 Index added 0.4% to 287.99 *Euro -- Franc at 1.3181 at 7:39 a.m. Zurich time
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