Credit Suisse winds down Greensill-linked funds reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Greensill Capital, a provider of supply-chain financing, is facing further trouble with Credit Suisse, the Swiss bank, withdrawing $10bn of its funds linked with the company to return the same to about 1000 affected investors.
Credit Suisse winds down Greensill-linked funds reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Securitization + Trade Credit Insurance + Intercompany Borrowings who would have thought this would end badly?
The future of the supply chain finance firm Greensill Capital is on shaky ground, and after our initial coverage of its impact on SCF, let’s look ahead.
News about Greensill broke this week when an insurer gave notice of intention not to renew a policy, triggering uncertainty about Greensill’s value. The trade cover insurance provided to Greensill is in the order of US$4.6 billion, in respect to about 40 clients. This forced Credit Suisse Group AG to freeze a client fund that bought the debt and has rocked the supply chain finance industry.