Credit Suisse Securitizes Loans for Oligarchs’ Yachts, FT Says
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Credit Suisse Group AG has securitized a portfolio of loans tied to yachts and private jets owned by oligarchs and entrepreneurs to offload risk, the Financial Times reported.
The Swiss lender sold $80 million of notes related to $2 billion of loans to so-called ultra-high-net-worth clients that were backed by jets, yachts, property or other financial assets, the newspaper reported, citing an investor presentation for the deal, which was conducted at the end of last year.