Published 1 year ago

Credit Suisse to sell most of its securitized products business to Apollo

Summary by Ground News

Apollo Global Management Inc. will manage remaining assets under an investment relationship with an expected term of five years. The transactions should hand Credit Suisse a release of risk weighted assets of up to $10 billion. The Wall Street Journal reported last month that the bank was nearing a deal to sell its securitized-products group.

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Reuters

Credit Suisse to sell most of its securitized products business to Apollo

[Zurich 15th Reuters] - Swiss financial giant Credit Suisse revealed on the 15th that an agreement to sell most of its securitized products and related business to the US fund Apollo Global Management has been finalized. Credit Suisse will finance part of the Apollo acquisition funds. The sale of the securitized commodity business is one of the highlights of the reconstruction plan announced last month. The assets of the same business are expect…

1 year ago·United Kingdom

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CNBC

Credit Suisse sells most of its securitized products business to Apollo as it speeds up restructure

Credit Suisse said it would accelerate the restructure of its investment bank by selling a significant portion of its securitized products group to Apollo.

1 year ago·United States

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Financial Post

Credit Suisse to sell bulk of Securitized Products Group to Apollo

ZURICH -- Credit Suisse said on Tuesday it has finalized the sale of most of its Securitized Products Group and related financing businesses to U.S. buyout fund Apollo Global Management - a key part of a sweeping revamp for the Swiss bank.

1 year ago·Canada

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Handelsblatt

Major bank: Credit Suisse sells securitization business to Apollo

The major Swiss bank is selling a large part of its credit securitization business to Apollo. The transaction is expected to be completed by mid-2023.

1 year ago·Düsseldorf, Germany

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