Credit Suisse Supply Chain Finance Funds

Nouvelles

Credit Suisse Supply Chain Finance Funds: Seventh payment of liquidation proceeds

5 juin 2023

Main points:

Between March 2021 and February 2023, USD 6.8 bn was returned to investors in the Credit Suisse Supply Chain Finance Funds (SCFFs).
The seventh payment of proceeds from the recovery of assets underlying the Credit Suisse (Lux) Supply Chain Finance Fund and Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund, including the partial release of the cash buffer, is planned with value date June 7, 2023.
Approximately USD 0.2 bn is available for distribution, which would bring the total amount returned to all investors to approximately USD 7.0 bn.
Further liquidation proceeds will be paid out to investors as soon as practicable in one or more installments. Investors will be notified of such payments.
Updated information on the funds and exposures is provided below as further information.

Further cash distribution

Between March 2021 and February 2023, USD 6.8 bn was returned to investors in the SCFFs. The seventh payment of liquidation proceeds, totaling approximately USD 0.2 bn, is planned with value date June 7, 2023, distributing proceeds to investors in the Credit Suisse (Lux) Supply Chain Finance Fund and Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund.

Fund name	Amount available for distribution
Credit Suisse (Lux) Supply Chain Finance Fund	approx. USD 82 mn
Credit Suisse Nova (Lux) Supply Chain Finance High Income Fund	approx. USD 118 mn

This will bring the total amount returned to investors in the SCFFs so far to approximately USD 7.0 bn.

The funds’ total cash position, including the USD 6.8 bn that has already been distributed to investors and current cash and cash equivalents in the funds, amounts to approximately USD 7.4 bn, which is 74% of the funds’ assets under management (AuM) at the time of their suspension.

The remaining liquidation proceeds will be paid out to investors as soon as practicable in one or more installments.

Investors will receive notification of such payments.

Additionally, an updated Investor Q&A as well as SCFF portfolio details will be provided in July 2023.

Key dates

Notices to shareholders	June 5, 2023
Value date	June 7, 2023