Chanticleer
Time for UBS to come clean on PNG loan
Swiss investment bank, UBS, needs to lift the transparency around how the sovereign lending sausage it sold to the PNG government was made, and what it earned from making it.
UBS can respond in one of two ways to the damning report by counsel assisting the Papua New Guinea royal commission into a $1.3 billion loan in 2014 to finance the purchase of 10 per cent of Oil Search.
It can maintain its current position of staying below the radar with minimal public disclosure of its position or it can reveal exactly how this complex financing sausage was made and how much it earned from it.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles