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This can be turned into equity.
In Britain, Switzerland and the European Union rules are either now in force or being drafted that will force banks to ensure that at least some of their debt can be turned into equity in a crisis.
They would be forced to hold a large new buffer of bonds that could be turned into equity to shore themselves up in times of trouble without having to rely on taxpayers, as many did during the financial crisis.
They also proposed forcing banks to hold more capital against some of their risky businesses, and to have debt that could be "bailed-in", or turned into equity, to recapitalise an ailing bank.Such proposed reforms resemble those working their way towards law in Britain.
Cofounder and CEO John Battelle tells us larger number includes an earlier convertible note that's been turned into equity.
The Stamford Bridge club's statement also said that debt of some £166.6m was turned into equity during the course of the year "making Chelsea FC plc debt free".
Similar(51)
These securities are bank bonds that turn into equity when things go awry.
Switzerland has already chosen one version of this approach by forcing its two big banks to issue new contingent convertible ("CoCo") bonds that turn into equity if necessary.
The company said today it had received non-binding letters of support from a number of existing shareholders and new investors to raise approximately £140m, which it expects to turn into equity by mid-May.
One such instrument, known as contingent-convertible bonds, or "cocos", is counted as debt in good times but automatically turns into equity if capital ratios drop below a certain level.The TLAC rule, which comes into force in 2019, will apply only to 27 "systemically important" global banks such as HSBC and Citigroup.
That means the investment turns into equity when the company later raises a much larger round.
More suggestions(15)
transformed into equity
turned into fair
converted into equity
turned into securities
turned into conversation
turned into terror
turned into theatre
turned into camouflage
turned into litigation
turned into nitroglycerin
turned into sauce
turned into eternity
turned into alchemy
turned into prose
turned into rubble
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