Commercial banks are issuing preference shares, as well as convertible and perpetual bonds
to shore up their capital base, Reuters said.
Renaissance Services shareholders approved issuance of perpetual bonds
worth up to $200 million.
More than 75 per cent of the outstanding bonds have fixed rate coupon, 14 per cent have floating rate and circa 11 per cent are variable coupon securities made up of perpetual bonds
with step ups on call dates.
Muscat: BankDhofar announced that its AT1 perpetual bonds
worth $300 million have been issued successfully, according to a filing to the Muscat Securities Market (MSM) on Wednesday.
Varoufakis first raised the idea of swapping Greek debt for growth-linked or perpetual bonds
when his leftist government came to power earlier this year, But Athens has since dropped the proposal after it got a cool reception from euro zone partners.
Greece would use the interim period to negotiate a rescheduling of its official debt, swapping euro zone government loans for GDP-linked bonds and ECB-held debt for interest-bearing perpetual bonds
, he said.
During the meeting, His Highness the Deputy Premier commended the level of growth and development of existing solid fraternal bilateral ties based on strong perpetual bonds
and mutual cooperation between the two countries.
The government of leftist prime minister Alexis Tsipras, elected last month on an anti-bailout ticket, is proposing to swap Greek bonds held by the European Central Bank and national governments for either growth-linked or perpetual bonds
1500 crore by issuing BASEL-III complaint Additional Tier-I Perpetual Bonds
through a Private Placement.
The third quarter saw the issuance of a pair of perpetual bonds
by regional banks, reflecting the ongoing adoption of Basel III standards.
0 million new shares at US$10 each (US$10 million) and US$690 million worth of zero-coupon perpetual bonds
(with a conversion price of US$10 each).
The increase, which may happen in the third or fourth quarter of this year, could be "pure capital" or perpetual bonds
or both, chief executive Eduardo Eguren said, depending on discussions with regulators and shareholders.