CoCo bonds wipe-out: What next for the $260bn AT1 market?

Biggest loss for the market to date

Valeria Martinez
clock • 4 min read

The Swiss regulator’s decision that holders of $17bn of Credit Suisse’s additional tier 1 (AT1) bonds would have their investment wiped out following the bank’s takeover by UBS has cast doubts on the future of an asset class that is $260bn in size.

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