News Column

Bondholders denied access

August 15, 2014

Wholesale depositors and investors who own senior debt issued by African Bank Investments (Abil) will not be able to access their funds or receive any interest payments while the unsecured lender is under outside supervision as part of its $1.6 billion (R16.8bn) bailout.

Junior bondholders will see their investment converted into equity, and Abil's retail depositors will be protected.

Cape Argus

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Cape Argus (South Africa)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters