Anastasiades to Take Initiative to Compensate Bondholders

15:49 - 24 Μαΐου 2016

GoldNews
Cyprus President Nicos Anastasiades is said to launch an initiative to solve the problems facing people who bought bank convertible bonds that have been converted to worthless bank shares during the 2013 financial crisis, President of the Association of bank bond holders has told the Cyprus News Agency.
Phivos Mavrovouniotis was received on May 19 by President Anastasiades with whom he discussed the issue pending since the 2013 crisis. As part of a €10 billion bailout, bank convertible bonds amounting to €1.3 billion have been converted to worthless shares. Many of the bond holders who have pledged these bonds as loan collateral are at the verge of bankruptcy.
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