Opinion

Felix Salmon

Counterparties

By Felix Salmon
February 16, 2011

Wherein Chris Harris burns his bridges with Ferrari in a most entertaining manner — Jalopnik

Nouriel Roubini sits on the board of “a company for carrying out an undertaking of great advantage, but nobody to know what it is” — Alphaville

Gibson Dunn is representing pro bono a bunch of millionaires fighting against the safety of their neighbors — Streetsblog

The Credit Suisse CoCo issue was placed with shareholders, not bondholders — NYT

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“The Credit Suisse CoCo issue was placed with shareholders, not bondholders.”

From the article:

“In an exchange for bonds the two investors already held, Credit Suisse is issuing [the CoCos].”

Are you saying the Times flubbed because the investors– Qatar’s SWF and a Saudi conglomerate–were never bondholders to begin with (rather, they were/are common shareholders)? Reuters’ pieces suggests that they held some sort of (vanilla) convertible bond/preferred (describing it as a “hybrid” investment).

Posted by Sandrew | Report as abusive
 

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