Comments on: Counterparties http://blogs.reuters.com/felix-salmon/2011/02/16/counterparties-304/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Sandrew http://blogs.reuters.com/felix-salmon/2011/02/16/counterparties-304/comment-page-1/#comment-24022 Wed, 16 Feb 2011 20:08:11 +0000 http://blogs.reuters.com/felix-salmon/?p=7314#comment-24022 “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).

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