Printer Friendly

-Bondholders express anger against Co-operative Bank management.

Global Banking News-September 2, 2013--Bondholders express anger against Co-operative Bank management(C)2013 ENPublishing -

Global Banking News - 02 September 2013

The refusal by the management of Co-operative Bank to engage in a conversation with its bondholders has led to expressions of anger against it, with the stakeholders terming the bank's approach as being in 'cloud cuckoo land'.

The bank has informed bondholders that they will have to take 'haircuts' on their deposits to help raise the GBP500m required to keep it from going out of business.

Bondholders are upset and angered by the fact that the mutual has told them to wait until the end of the month before being given details of the, so-called, exchange offer.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2013 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2013 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Sep 2, 2013
Previous Article:-Investors hope for better risk controls after Everbright incident.
Next Article:-Steve Perry to join First Gulf Bank.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters