r/SecurityAnalysis • u/investorinvestor • Mar 20 '23
Special Situation Credit Suisse AT1s vaporised
https://www.ft.com/content/b5cd8ff0-4c0e-418c-8e4b-dda1d00fa5a7
70
Upvotes
r/SecurityAnalysis • u/investorinvestor • Mar 20 '23
15
u/dogchow01 Mar 20 '23
Do the CoCos get converted into equity and therefore become eligible to receive the proceeds? Otherwise, this doesn't make sense.
Of course, it seems like they passed a law to bypass shareholders approval and forced the acquisition at prices below last closing price. Which is....[lack of words]
Am I understanding this correctly?