TITLE

Societies could opt for debt swap to boost cash

AUTHOR(S)
Jones, Lee
PUB. DATE
June 2009
SOURCE
Money Marketing;6/18/2009, p2
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the plan of building societies to convert debt into profit to boost capital in Great Britain. It states that West Bromwich Building Society intends to convert £182.5 million of subordinated debt into profit participating deferred shares. However, a spokesman for Chelsea said that everyone is eyeing the scheme, but their company is adequately capitalised. Linda Will of Stroud & Swindon admitted that the scheme does not seem like a terrible attractive investment.
ACCESSION #
43089673

 

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