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Rates Round Up

Monday 18th of May 2009

Credit Sails notes cost kiwis $91 million
Cayman Islands-registered Credit Sails has told its New Zealand investors the $91 million they poured into its bond issue is effectively gone.

Investors in the convoluted bond issue that relied on momentum notes will see a return $11.96 for every $1,000 the put in - a loss of almost 99% on the bonds called Credit Sails first issued i...

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