Investors cry foul but Swiss Re gets strong demand for Coco

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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Investors cry foul but Swiss Re gets strong demand for Coco

Buyers placed over $3.5bn of orders for Swiss Re’s contingent capital notes on Tuesday, despite some investors’ protestations that the deal’s wipe-out structure left bondholders subordinate to shareholders in an organisation whose solvency was almost impossible to model.

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