Great Eastern offers to buy back CDO-linked note
Great Eastern, a unit of OCBC Bank, has offered to buy back its GreatLink Choice (GLC) product, which is similar to Lehman Brothers-backed Minibonds, from 18,000 policyholders in Singapore.
During the offer period, which starts on Monday August 28, policyholders can redeem their investments and receive a sum equal to their original investment, less total payouts received to date.
The move could potentially cost the company S$594
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