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Credit Suisse recovers portion of Greensill loan, sees possible charge

Credit Suisse recovers portion of Greensill loan, sees possible charge

· 03/16/2021 02:09
Credit Suisse recovers portion of Greensill loan, sees possible charge

- Credit Suisse CSGN.S said on Tuesday it had recovered some $50 million from a $140 million bridge loan it made to Greensill Capital last year, and would be announcing further cash distributions from its liquidated supply chain finance funds over coming months.

The lender has been facing the fallout from the collapse of $10 billion worth of funds linked to British financial services firm Greensill Capital. nL1N2L822

"While these issues are still at an early stage, we would note that it is possible that Credit Suisse will incur a charge in respect of these matters," it said in a statement.


(Reporting by Brenna Hughes Neghaiwi; Editing by Michael Shields)

((brenna.neghaiwi@thomsonreuters.com; +41 58 306 77 35;))