Craig Sebastiano and Jody White

ABCP restructuring plan approved

Holders of third-party asset-backed commercial paper (ABCP) overwhelmingly approved a restructuring plan in a vote on Friday. Approximately 96% of the noteholders voted in favour of the plan to swap the ABCP for new longer-term notes. Only a majority was needed. And noteholders with $28.8 billion worth of paper — more than 90% — approved […]

By Craig Sebastiano and Jody White |April 25, 2008

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