Credit score Suisseon Tuesday introduced that it will speed up the restructure of its funding financial institution by promoting a good portion of its securitized merchandise group (SPG) to Apollo World Administration.
Credit score Suisse mentioned the transaction, together with the potential sale of different belongings to third-party traders, is anticipated to cut back SPG belongings from round $75 billion to $20 billion.
The financial institution mentioned the transfer represented an “necessary step in the direction of a managed exit from the Securitized Merchandise enterprise, which is anticipated to considerably de-risk the funding financial institution and launch capital to put money into Credit score Suisse’s core enterprise.”
Supply: www.cnbc.com/2022/11/15/credit-suisse-to-sell-securitized-products-business-to-apollo-as-it-accelerates-restructure.html
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