RBS to restructure Cheyne Finance
Royal Bank of Scotland (RBS) has won exclusive rights to restructure Cheyne Finance, a structured investment vehicle (SIV) managed by London-based hedge fund Cheyne Capital Management. The bank, which has not arranged or managed an SIV to date, signed an exclusivity agreement with the receiver, accountancy firm Deloitte, last month.
Cheyne wrote to investors in August informing them that it had breached a major capital loss event. Its net asset value dropped from 91% on July 27 to 30% on October
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Structured products
Regulation
FTX failure resets US crypto legislative programme
Lawmakers expected to seek stronger customer protection; industry wants flexibility for DeFi
Receive this by email