Coupon rates between seven and nine and a half percent attracted sufficient investor interest in European contingent capital securities to establish what appears to be a sustainable market in those securities.
Source quote, verbatim
CCS coupon rates between 7% and 9.5% attracted sufficient investor interest and seem to have established a sustainable market in these securities.
From
Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012), V. Evolving Market in Contingent Capital, p. 35 https://ssrn.com/abstract=1998455 · source PDF
Cite as
Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455
Holds when
European CCS issuances through 2011
based on the Lloyds, Credit Suisse and Bank of Cyprus offerings and industry interviews
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