LONDON, March 9 (Reuters) - Credit Suisse bonds
tumbled on Thursday, and the cost of insuring the company's debt
against default reached a two-month high after the Swiss lender
delayed publication of its annual report following a call the
U.S. regulator.
Credit Suisse's additional tier 1 (AT1) dollar bonds fell by
as much as 3.4 cents on the day with the 9.75% issue trading at
a three-month low of around 83.49 cents , while
the lender's euro-denominated bonds fell as much as 1.2 cents
with the 2032 bid at 70.94 cents. Five-year credit default swaps - a form of insurance against
default for bondholders - widened to 374 basis points from 372
bps at Wednesday's close, according to data from S&P Global
Market Intelligence.
Credit Suisse shares dropped 5% on the day.
(Reporting by Amanda Cooper; Editing by Karin Strohecker)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.