The logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann
ZURICH, Sept 27 (Reuters) – Credit Suisse (CSGN.S) is set to pay back another $400 million this week to investors in insolvent supply chain finance funds linked to Greensill, the Swiss bank said on Monday.
“The fifth payment of proceeds from the recovery of assets underlying the Credit Suisse (Lux) Supply Chain Finance Fund and Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund is expected to be distributed to investors in those funds in the week of September 27,” its asset management arm said on its website.
“Approximately $0.4 bln is available for distribution which would bring the total amount returned to all investors to approximately $6.3 bln,” it added, saying further liquidation proceeds will be paid out to investors as soon as practicable in one or more installments. read more
Reporting by Michael Shields, editing by Louise Heavens
Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.