Zurich-based Credit Suisse AG could seek at least $2 billion in a potential capital increase, and has lined up big banks just in case, according to a Tuesday report by Bloomberg, [l: which cited sources. Those banks include Morgan Stanley and Royal Bank of Canada, with the Qatar Investment Authority and Abu Dhabi's Mubadala Investment Co. having also been gauged for any interest. Such plans --- referred to as Project Ghana --- could emerge after the bank's restructuring plans, expected Oct. 27, the report said. Goldman Sachs analysts have estimated the bank is facing a capital shortfall of more than 5 billion francs ($5 billion), as short sellers have been building positions against it.
(END) Dow Jones Newswires
October 18, 2022 10:51 ET (14:51 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.