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re: UBS agrees to buy Credit Suisse for more than $2bn
Posted on 3/19/23 at 2:14 pm to GhostOfFreedom
Posted on 3/19/23 at 2:14 pm to GhostOfFreedom
I just read $17B in CS debt wiped out.
1
Posted on 3/19/23 at 7:36 pm to Big Scrub TX
Yep, bondholders wiped out
quote:
LONDON/NEW YORK (Reuters) - Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday.
quote:
AT1 bondholders
Pacific Investment Management Co., Invesco Ltd. and BlueBay Funds Management Co. SA were among the many asset managers holding Credit Suisse AT1 notes, according to data compiled by Bloomberg. Their holdings may have changed or been sold entirely since their last regulatory filings.
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