CS Closes Debt CCD

Credit Suisse has raised MXP5.49bn ($419m) for a certificado de capital de desarrollo (CCD) fund investing in Mexican credit assets, according to regulatory documents. The 2020 transaction creates a fund, known as the Credit Suisse Mexico Credit Opportunities Trust, which will invest in bonds, loans, structured credit products and other debt assets. It is to be managed by Andres Borrego and Manuel Ramos. 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 managed the sale.