Credit Suisse Exits Distressed-Debt Trading in Risk Pullback
- Portfolio valued at $250 million has up to 30 positions
- Credit Suisse getting out of risky, capital-intensive activity
Photographer: Stefan Wermuth/Bloomberg
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Credit Suisse Group AG is exiting distressed debt and special-situations trading, as part of its broader exit from risky and capital-intensive businesses.
The bank is selling a book of assets including bond and loan positions related to distressed companies, with a market value of about $250 million, according to people with knowledge of the matter. Final commitments from bidders are due this week after the portfolio was put up for sale in December, said the people, who asked not to be named as the details are private.