Credit Suisse pumps £4bn into UK lender

Thursday 29 November 2007 at 05:16

Credit Suisse has agreed to extend UK building society Alliance & Leicester a £4bn (€5.6bn) two-year loan backed by its prime mortgage book, highlighting the Swiss bank's intent to inject capital while others take a more defensive stance to curb lending amid turbulent markets.

The loan will bolster the lender's cash reserves and enable it to refinance maturing debt.