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
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Lot's of "6's" too.