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WATCH: Pimco, Invesco Face Biggest Losses on Risky CS Bonds
Pimco emerges as one of the biggest holders of Credit Suisse’s wiped-out debt, the US weighs measures to protect all deposits and trillion-dollar investors fear missing out on the next rally. — Kristine Aquino
Pimco and Invesco are among the largest holders of Credit Suisse’s riskiest bank debt — so-called Additional Tier 1 bonds — that have been wiped out after the bank’s takeover by UBS. Pimco is the largest holder of such debt with around $807 million of the securities, according to a person familiar with the matter who isn’t authorized to speak publicly. Because of extraordinary government support, the notes are set for a complete writedown and were quoted at prices of a few cents on the dollar on Monday.