Re: How dodgy is the Citibank-Abu Dhabi deal?
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There are a few big differences in the issues
1) The citi issue is a mandatory convertible to common shares and the CFC issue is not. More risk on this citi convert to the equity downside. So this isnt really a loan, its a equity issuances as the money will never be repaid in cash, just shares of Citi
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The CFC money will never be repaid to BofA either. [img]/images/graemlins/smile.gif[/img]
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