Tuesday, November 8, 2016

Legacy Tier 1 in cross-hairs as StanChart breaks with convention

LONDON, Nov 4 (IFR) - Holders of old style hybrid Tier 1

bank debt were left nursing hefty losses this week after

Standard Chartered said it would not redeem a US$750m legacy

Tier 1 bond next January, while confusion reigned as to whether

Commerzbank would take a similar decision relating to one of its

bonds.

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