Noteholders decide issuers’ fate
Bondholder meetings are coming thick and fast as troubled securitisations grapple with underperforming loans and counterparties. Lehman-related non-conforming RMBS such as Eurosail- UK 2007-4BL pose the most obvious problems, but CMBS investors also have to decide what to do about covenant breaches and other issues. Read EuroWeek on Friday to find out how investors have been responding.
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