159 The UBS takeover of Credit Suisse includes wiping out $17 billion bonds. "17" strikes again! (www.washingtonpost.com) posted 1 year ago by bubble_bursts 1 year ago by bubble_bursts +160 / -1 Analysis | Why $17 Billion in Credit Suisse ‘CoCos’ or AT1s Got Wiped Out in UBS Takeover They’re called contingent convertible bonds, or CoCos — and are often described as high-yield investments with a hand grenade attached. The takeover of Credit Suisse by UBS Group AG included pulling the pin on $17 billion of CoCos, which are also known as ... 6 comments share 6 comments share save hide report block hide replies
Who are the AT1 bonds investors?
Mostly private investors and institutions that have the appetite for high risk high reward investments. They knew what they were playing with, btw, so I dont have any sympathy for them. I just hope no pension funds etc put money into that.