Saturday, May 23, 2020 3:20:21 PM
From a capital standpoint I do see some advantages as it makes it all Tier 1 or CET1 and allows them to issue new preferred with a dividend (converting JPS eliminates the need to pay a divi on that part). However, I am not convinced that all JPS holders want to convert and would view this as some kind of windfall (and enough to drop suits).
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