In a results report last week, the insurer said that as part of reducing hybrid debt
by GBP900m, it could cancel preference shares at par value through a reduction of capital.
Fitch expects the company to repay its existing EUR525 million hybrid debt
in February 2018, therefore the new proposed instrument will be the only hybrid in the capital structure.
The Index is designed to track floating rate and variable rate preferred securities and hybrid debt
securities that are comparable to preferred securities and that, together with the preferred securities, are representative of the general U.
We're saying today we're going to give some of that back to our shareholders in 2017 and we're going to pay down some pretty expensive hybrid debt
On the enhanced regulations and its impact, the survey responses showed a depressed view, with 46 per cent expecting market consolidation, 20 per cent expecting capital raising, 27 per cent expecting other remedial actions and seven per cent expecting issuance of hybrid debt
to relieve pressures on capital.
These will include Islamic finance options, structured finance and hybrid debt
and equity finance options.
The analysis of reasons behind using hybrid debt
represents an important thread in these considerations.
Santos sparked fears it may be facing capital cost blowouts or considering an acquisition when it tapped Deutsche Bank, Goldman Sachs and JPMorgan this week to sound out investors for a hybrid debt
UPGRADE OF THE BANK'S SUBORDINATED AND HYBRID DEBT
Fund XVI will continue EIG's business of making hybrid debt
and structured equity investments in energy and energy-related infrastructure companies and projects on a global basis, the firm said.
The Spanish group would issue hybrid debt
to subscribe part of a capital hike at O2 to fund the deal, the people explained.
8 bln requirement through capital generation and won't need to issue hybrid debt