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The UBS takeover of Credit Suisse includes wiping out $17 billion bonds. "17" strikes again! (www.washingtonpost.com)
posted ago by bubble_bursts 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 ...
www.washingtonpost.com
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