I've lived through quite a few financial crises, some local to Australia, and others global.
Re: Common equity having seniority over bond holders
It's in the contracts.
Kinda sorta. Most holders assumed that the bonds would be converted to equity and share in whatever was paid. This will kill the AT1 market, I think.
I don't know why my entry appeared twice, but apparently I cannot just delete the copy :(
Re: Common equity having seniority over bond holders
It's in the contracts.
Kinda sorta. Most holders assumed that the bonds would be converted to equity and share in whatever was paid. This will kill the AT1 market, I think.
I don't know why my entry appeared twice, but apparently I cannot just delete the copy :(