27.05.2010 - GIC converts UBS notes, faces $5 bln paper loss

From Temasekreview.com: 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 [GIC.UL] 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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