Sentences with phrase «subordinated bonds sold»
Not exact matches
Sell this bond and swap it for the recently issued subordinated bonds of The Hanover Insurance Group.
http://alephblog.com/
On Grantham's comments: my comments Saturday night are pertinent here for two reasons — anyone selling illiquid CDO tranches, subordinated mortgage bonds, etc., immediately prior to the crisis would find two things: 1) the bids were non-existent or really poor, and 2) if the trade did take place, it would be at levels that reset the pricing grid for that area of the market a LOT lower, leaving the remaining securities looking worse, and a diminution of GAAP equity.
The CDO manager would say that it depends on the amount of leverage he and his competitors can employ in buying bonds for his deals, and how dearly he can sell his equity and subordinate tranches.