- You are here:
- Home »
- Minibond
Tag Archives for " Minibond "
Minibond Restructuring No Longer Possible
Following the legal dispute which were raised by US lawyers on the unwinding of the Minibond, it appears that plans to restructure the Minibond has been derailed as well. HSBC Trust has updated their FAQ to address this: Can you confirm the reports stating that any restructuring of the notes is not feasible for the […]
HSBC Trust to Seek US Legal Advice on Minibond
It appears that the Hong Kong plan to buy back the Minibond has run into some obstacles. Apparently, HSBC Hong Kong has received a stop order a few days ago from Weil, Gotshal & Manges, Lehman’s bankruptcy counsel. Complex issues of US bankruptcy law have been raised. Article in Hong Kong on this issue HSBC […]
Minibond Series 9 and 10 Coupon Payout
HSBC Institution Trust released a letter announcing partial interest payments to Minibond Series 9 and 10 investors. This payment will be passed on to noteholders from the coupon payments of the underlying securities of Minibond 9 and 10, which are corporate bonds issued by Wachovia Corporation. Minibond Series 9 noteholders will receive an amount based on […]
Reply to Parliament on Lehman-Linked Products
Question Ms Sylvia Lim: To ask the Senior Minister (a) whether structured notes similar to Lehman Brothers products were sold to small retail investors in the United States and in the same manner as in Singapore through bank branches; (b) if so, how disgruntled investors are being handled by the American Federal Reserve, compared to […]
HSBC Trust Terminates Swaps of Underlying
HSBC Institutional Trust has informed MAS that they have taken certain steps in the interest of Lehman Minibond noteholders. They have terminated the swaps of the underlying securities for series 1-8. This will help to preserve the value of the underlying securities. Also, they have appointed three partners from PricewaterhouseCoopers Singapore (PwC) to act as receivers […]