(Bloomberg) -- Credit Suisse Group AG said it plans to return another $400 million to investors in supply-chain funds affected by the failure of Greensill Capital, the sixth disbursement since the bank was forced to freeze the products earlier this year.
The latest payment, planned for Dec. 15, brings the total repaid to investors to $6.7 billion, according to a statement on Monday. The cash position of the funds is equivalent to about 7.2 billion, or about 72% of their value at the time of their suspension.
The bank signaled this month that the rest of the money will take longer to recoup as some of the payments linked to the funds are late.
Read More: Credit Suisse Greensill Clients Face Long Wait for Their Money
The collapse of financier Lex Greensill's empire was the first of two big hits to Credit Suisse this year, with the implosion of Archegos Capital Management coming shortly afterward. The bank is still conducting an investigation into what happened with the Greensill funds.
The bank marketed the popular supply-chain finance funds as among the safest investments it offered, because the loans they held were backed by invoices usually paid in a matter of weeks. But as the funds grew into a $10 billion strategy, they strayed from that pitch and much of the money was lent through Greensill against expected future invoices, for sales that were merely predicted.
The business quickly collapsed after Greensill's loss of trade credit insurance on many of its notes to less credit-worthy borrowers.
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