CS Closes in on Debt CCD

Credit Suisse was expected to close books by today on a certificado de capital de desarrollo (CCD) transaction of up to MXP6bn ($459m) in Mexico’s local market, according to regulatory documents. The 2020 transaction would create a fund investing in various types of credit transactions in Mexico. The bank envisions a return structure with a 9% preferred return for investors, followed by an 85%-15% split between investors and the manager. Credit Suisse’s own capital markets operation is managing the sale.