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Company: Fund Shares : Loan in CT
Description: The 50 shares of a collateralize loan obligation – essentially a bond made up of a basket of loans to corporations – later skyrocketed in value. By August 2014, the shares had climbed to about $55 each from the fund’s initial price of $34 in the previous November, traders said. The steep rise in the bond’s value was the result of a debt-for-equity swap done in one of the basket’s largest holdings: IXC Communications, a trader involved in the security said. There was no indication in the documents obtained by The Post that Fund Plan had received any compensation for the shares shifted to Rocky’s accounts. A spokesman for Fund Plan would not comment on the matter.
URL: https://xxxpron.wordpress.com/2014/09/08/fund-shares-loan-in-ct/
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