Credit Suisse First Boston is stuck with nearly 40% of a $750m (€639m) bond convertible into shares of Yahoo!, the internet service, after failing to sell it in April.

CSFB was the sole bookrunner for the issue, which was a bought deal. CSFB is still holding nearly 300,000 units, representing 38.9% of the issue, according to a resale prospectus filed with the Securities and Exchange Commission (SEC), the US regulator.