THERE is good news for investors of Minibonds, a structured product linked to bankrupt US investment bank Lehman Brothers - A bank based in Hong Kong has expressed an interest to replace Lehman as the swap counterparty for all series of the Minibond programme.

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no loss meh ? . . . In HK, banks agreed to buy back soured derivatives tied to Lehman . . . but the purchases will be made at market value as determined by auditors, leaving uncertain whether the government-backed agreement will be enough to mollify investors facing the prospect of deep losses . . unhappy investors (in HK) expressed frustration at the prospect of what one expert predicted could be compensation of as little as 10 to 20 cents on the dollar . . .eh . . . is swap counterparty replaced not the same as selling the swap to another party ? . . . am blur leh . .