Credit Suisse faces restrictions on business till deal closure By Reuters

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Credit Suisse faces restrictions on business till deal closure By Reuters


© Reuters. FILE PHOTO: A view shows the logo of Credit Suisse on a building near the Hallenstadion in Zurich, Switzerland, April 4, 2023. REUTERS/Pierre Albouy

(Reuters) – Credit Suisse Group AG faces certain restrictions in its ability to do business until its acquisition by rival UBS Group AG (SIX:) is completed, according to a regulatory filing on Tuesday.

In certain cases, without prior UBS approval, Credit Suisse cannot grant a new credit facility or credit line in an amount exceeding 100 million Swiss francs ($113 million) to investment grade borrowers and more than 50 million Swiss francs to non-investment grade borrowers, the filing shows.

($1 = 0.8889 Swiss francs)



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