Nov 30 Reuters Credit Suisse shares and bonds took another hit on Wednesday in a sign the embattled Swiss bank is struggling to regain investor confidence ahead of a planned 2.4 billion fundraising to help pay for a major overhaul.

After opening higher, the shares tumbled more than 1.5 to a new record low in their ninth straight session in the red. The stock has lost more than 66 since the start of the year.

Credit Suisse rights for its 2.24 billion Swiss francs 2.4 billion share issue were down 3, having reversed initial gains. This came on top of a 30 tumble on Tuesday.

The bank39;s bonds were also under pressure, with additional tier 1 dollar bonds down as much as 2.7 cents and many sinking below the levels seen during a sell off in the bank39;s shares and bonds in early October, Tradeweb data showed.

The share issue, part of a broader capital raising worth 4 billion francs, which got shareholder approval last week, aims to help to fund Credit Suisse39;s recovery from the biggest crisis in its 166year history.

Switzerland39;s secondlargest bank last week flagged that it was on course for a pretax loss of up to 1.5 billion Swiss francs in the fourth quarter, and revealed that wealthy clients had made hefty withdrawals.

Investor confidence has not been restored yet, said Joost Beaumont, head of bank research at ABN Amro.

The bonds had a little rebound when the strategic review was announced, but it is still a difficult story, with question marks on the execution…