The simple answer to Dodd's question is of course that Aviva thought it could deviously retire the debt on the cheap.
Prices have not quite returned to their pre-kerfuffle level. So there is residual concern that other issuers could seek to crawl through similar slimey holes.
I took the opportunity to top up with Aviva and GA prefs while all this was going on, and atm I am not unhappy. But if I added up my overall exposure to Financials, I should be unhappy. So I'll refrain from adding it up
![Smile :)](./images/smilies/icon_e_smile.gif)
V8