05.03.2010 - GIC converts UBS notes, faces $5 bln paper loss
From Reuters: Singapore's biggest sovereign wealth fund, GIC, said it converted its UBS notes into ordinary shares, suffering a paper loss of about $5 billion. The Government of Singapore Investment Corp had invested 11 billion Swiss francs ($10.22 billion) in mandatory convertible notes in UBS to support the Swiss bank during the financial crisis............................................Full Article: Source
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