The National Pension Service is expected to suffer losses due to Credit Suisse's investment of 135.9 billion won in bonds
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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hoondork1977@alphabiz.co.kr | 2023-03-21 06:58:54
[Alpha Biz=(Chicago) Reporter Paul Lee] It has been confirmed that the National Pension Service holds 135.9 billion won worth of Credit Suisse (CS) bonds.
As UBS, Switzerland's No. 1 bank, decided to acquire CS, it avoided losing all of its investment, but some investment losses are expected to be inevitable as Swiss authorities decided not to recognize the value of subordinated bonds worth $17 billion.
The National Pension Service said it held 73.2 billion won worth of Credit Swiss shares as of the end of last year.
"We do not disclose the current status of our holdings due to the data disclosure policy, but we have already disposed of most of our investment in consignment this year," the corporation said.
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