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Credit Suisse Places CHF3.8 Billion In 4% Convertible Securities

ZURICH -(Dow Jones)- Credit Suisse Group (CS) Wednesday said it placed 3.8 billion Swiss francs of 4% Subordinated Mandatory and Contingent Convertible Securities ("MACCS"), which are mandatorily convertible into 233.5 million shares at a conversion price of CHF16.29 per share on March 29, 2013. MAIN FACTS: - CHF1.9 billion of MACCS will be purchased directly by strategic and institutional investors, and CHF1.9 billion MACCS are being offered to shareholders of Credit Suisse Group AG by way of an offering of preferential subscription rights. - Strategic and institutional investors have entered into definitive agreements to purchase any MACCS not taken up by shareholders, thereby ensuring placement of the entire CHF3.8 billion of MACCS. - The MACCS are being issued by Credit Suisse Group (Guernsey) V Limited, and subject to a guarantee whereby Credit Suisse Group AG will agree to unconditionally and irrevocably guarantee all payments and, on a subordinated basis, the delivery of the shares in respect of the MACCS. -Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Credit Suisse Grp. (CS)
DateTimeHeadline
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