Switzerland's second-biggest bank will make another payment to investors in the now-defunct Greensill supply chain finance funds.
Credit Suisse will pay around $400 million to investors in the blocked supply chain finance funds connected to Greensill this week, the bank’s asset management arm said in an email to finews.com on Monday. This is the sixth in a series of payments bringing the total that the bank has repaid fund investors to around $6.7 billion of the fund’s original $10.1 billion value.
Fund liquidity is now reportedly at roughly 72 percent of fund assets at the time of the trading halt, the bank said. Credit Suisse is still struggling to retrieve the biggest chunk of uncertain monies – equating to around $2.3 billion – from troublesome obligors. These are held by the GFG Alliance, Katerra, and Bluestone.
