Anyone with a Bloomberg terminal can give me a list of the holders of Credit Suisse’s AT1 bonds? I’d also like to see the same list for the owners of the AT1s by UBS.
Bank of Valletta is a bank teetering with scandals and a serious capital-destruction problem. Last year, basically BOV had to issue an expensive bond sale just to shore up its capital reserves, and this is a bit problematic. This means that basically, BOV is burning its capital just to comply with regulatory and legal standards that are meant to keep the bank healthy. The bank is clearly not in a healthy position. What’s interesting is that these bonds were issued with the help of Credit Suisse and UBS, and BOV also seems to have a relationship with Credit Suisse. BOV’s current Chief Financial Officer, Izabela Banas came from Credit Suisse.
BOV should issue a statement explaining its full exposure to Credit Suisse and UBS.