Pain coming for senior bondholders, say Credit Institute panellists
Buy-side participants at the latest Credit Institute event acknowledged haircuts on senior unsecured debt are looking increasingly likely as regulators move to introduce new special resolution regimes.
The Irish government has, for the time being at least, resisted the temptation to impose haircuts on senior unsecured investors in bonds issued by the country’s ailing banks. But panellists at the latest Credit Institute event held on December 2 believe this option will become a favoured option by regulators as new special resolution regimes are established.
Regulators and governments are
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