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7/2, 11:51 PM (Source: TeleTrader)
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Wirecard debt put up for auction

Japanese Softbank’s convertible bonds that were part of a transaction that allowed the company to buy a stake in now insolvent German payment processor and financial services provider Wirecard have been put up for sale in an auction.

Bonds convertible into Wirecard debt with a nominal value of €900 million ($1.01 billion) will be sold through the auction that will close on July 8.

It was reported earlier that the management team of Wirecard AG has artificially inflated the company's sales and earnings with fake income since 2014.

Breaking the News / TF