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Investors set to get another $400 mln from Credit Suisse supply chain funds

Mark White by Mark White
September 27, 2021
in Supply Chain
0


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

Our Standards: The Thomson Reuters Trust Principles.



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Mark White

Mark White

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.

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