Caius takes aim at UniCredit’s Cashes

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Caius takes aim at UniCredit’s Cashes

UniCredit_PA_230x150
A logo sign outside of the headquarters of the UniCredit Group in Milan, Italy on September 3, 2016. Photo by Kristoffer Tripplaar | Kris Tripplaar/SIPA USA/PA Images

Hedge fund Caius Capital has written to the European Banking Authority claiming that a legacy equity-linked instrument issued by UniCredit counts incorrectly as regulatory capital. The fund believes this makes the bank’s ordinary shares ineligible as capital too.

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