Deals
Credit Suisse’s $17 Billion of Risky Bonds Are Now Worthless
- UBS agreed to buy Credit Suisse in government-brokered deal
- Government support will trigger ‘complete writedown’ of AT1s
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Holders of Credit Suisse Group AG bonds suffered a historic loss when a takeover by UBS Group AG wiped out about 16 billion Swiss francs ($17.3 billion) worth of risky notes.