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18.10.22

Credit Suisse Taps RBC, Morgan Stanley on Possible Cash Call - source bloomberg - capital raise confirms the problems

-Swiss bank said to work with firms including Canadian, US -Credit Suisse contacted Qatari wealth fund on capital raise Credit Suisse Group AG is working with Royal Bank of Canada and Morgan Stanley on a potential capital increase, should the bank need to shore up its balance sheet and raise funds for its restructuring, according to people familiar with matter. The Zurich-based firm has lined up banks including the Canadian and US firms for the possible share sale, the people said, asking not to be identified as the matter is private. A capital increase, under the name Project Ghana, could come after the bank’s formal restructuring announcement on Oct. 27, the people said.