| From Temasekreview.com: Singapore’s sovereign wealth fund Government of Singapore Investment Corporation (GIC) may have suffered a paper loss of more than SGD $10 billion dollars in its investment in Swiss bank UBS as of now.
In December 2007, GIC agreed to invest 11 billion francs in mandatory convertible notes issued by UBS. The mandatory conversion feature of the notes held by GIC means that they must be exchanged for UBS shares by the time they mature on March 5, 2010 – two years after the notes were first issued.......................................Full Article: Source
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