Credit Suisse accepts €2 billion from four notes in tender offers

By Mary-Katherine Stinson

Lexington, Ky., March 23 – Credit Suisse International announced the results of its March 16 separate invitations to holders of outstanding securities from four series, according to a press release.

The company decided to accept for purchase the tendered securities and set the offer consideration amount at €2,001,419,590 with no proration.

Holders had tendered the following securities, issued by Credit Suisse AG, acting through its London branch, with the total consideration per €1,000 principal amount:

• €455,356,000 of the 1% notes due June 2023 (ISIN: XS1428769738) at €990 plus €7.945205 in accrued interest;

• €931,124,000 floating-rate notes due September 2023 (ISIN: XS2381633150) at €992.50 plus €2.374111 in accrued interest;

• €369,126,000 2.125% notes due May 2024 (ISIN: XS2480543102) at €960 plus €17.291096 in accrued interest; and

• €277,669,000 floating-rate notes due May 2024 (ISIN: XS2480523419) at €980 plus €2.618667 in accrued interest.

The offer expired at noon ET on March 22, and settlement is expected to occur on March 24.

Credit Suisse Securities (USA) LLC (+44 20 7883 8763; liability.management@credit-suisse.com) is the dealer manager.

The tender agent is Kroll Issuer Services Ltd. (+44 20 7704 0880, cs@is.kroll.com, https://deals.is.kroll.com/cs).

After settlement, €786,621,000 of the June 2023 notes, €788,126,000 of the September 2023 notes, €593,034,000 of the May 2024 notes and €472,331,000 of the floaters due 2024 will remain outstanding.

The financial services provider is based in Zurich.

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