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


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Source: Cape Argus (South Africa)


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