An Equitable solution for bondholders

News

Bondholders are in the dark about whether Equitable Life will be able to pay interest, due in August, on its £350 million bond.

The troubled life insurer admitted in its half-year 2002 interim accounts that “as a result of volatility in investment markets, the uncertain nature of provisions and the other potential strains on the Society’s finances … the Board recognises the possibility that the Society may not meet its required minimum margin.” UK regulator the Financial Services Authority (F

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