Credit Suisse Group on 31 October disclosed the details of its $4bn capital raise as it aims to source funds to pay for a painful restructuring involving thousands of job cuts and a slimming down of its investment bank.

The Swiss lender said new qualified investors had committed to purchase around 462 million shares at 3.82 Swiss francs ($3.84) each, or around 94% of the weighted average price of the shares on 27 and 28 October, which will raise CHF1.76bn.