Qatar takes stake in Credit Suisse

- Central Banking staff
- 17 Oct 2008

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The Qatar Investment Authority, a sovereign wealth fund, has bought a stake in Credit Suisse, Switzerland's second-largest bank.

Qatar Holding, a wholly owned subsidiary of the sovereign wealth fund, is the largest investor in a Sfr10 billion ($8.8 billion) capital raising by the bank.

The investors will receive:

· about 93m Credit Suisse treasury shares for proceeds of about Sfr3.2 billion of common equity;

· mandatory convertible bonds convertible into about 50m new shares of common equity

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