Explainer: Credit Suisse bondholders seek legal advice on AT1 wipe-out

Explainer: Credit Suisse bondholders seek legal advice on AT1 wipe-out

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bondholders are seeking legal advice after the Swiss regulator ordered 16 billion Swiss francs ($17.5 billion) of Additional Tier-1 (AT1) debt to be wiped out under its rescue takeover by UBS (UBSG.S). These higher-yielding junior bonds emerged from the 2008-2009 crisis as a way to boost bank…

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