Investors set to get another $400 million from Credit Suisse supply chain funds By Reuters
© Reuters. FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann
ZURICH (Reuters) – Credit Suisse (SIX:) 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.
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