C Suisse wins bond auction

Credit Suisse bought $3.7bn of U.S. mortgage securities in the largest auction of its type since at least 2010, according to a person with knowledge of the offering.

Bloomberg News reports that the bank paid more than 73 cents on the dollar for the bonds without government backing, which were issued before the 2008 financial crisis, said the person, who asked not to be named because the transaction was private. 

BlackRock managed the 'all or nothing' sale of debt tied to mostly subprime home loans, according to a report last week by JPMorgan analysts. Dealers had to bid on the entire block of bonds, either to hold on their own books or to fill client orders.

A European bank may be the seller, Wells Fargo analysts wrote in a report last week.

To access the complete Bloomberg News article hit the link below:

Credit Suisse Said to Win $3.7 Billion Mortgage-Bond Sale

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