(NASDAQ: MVBF) has said that it is planning to redeem USD12.4m in subordinated debt
, which was issued in June 2014.
Minimum subordinated debt
requirements may be amended to apply only to global systemically important banks (G-SIBs) and "top-tier" banks with assets above EUR100 billion, according to a statement from Gunnar Hoekmark, the EU Parliament's rapporteur, on his website last Thursday.
The provisional rating assigned to the subordinated debt
obligations of Odeabank is positioned two notches below the bank's adjusted baseline credit assessment (BCA) of ba3, in line with Moody's standard notching guidance for subordinated debt
with loss triggered at the point of non-viability, on a contractual basis.
The subordinated debt
ratings are linked to the banks' adjusted BCAs.
Moody's said bank muscat's long-term global foreign currency subordinated debt
programme rating of (P)A2 has been downgraded to (P)A3.
It is likely that the degree of state ownership in each bank will influence the extent to which Fitch expects sovereign support to flow through subordinated debt
Fitch said it will review its ratings approach to subordinated debt
in the GCC region if and when any developments in the regulatory approach emerge that prompt it to do so.-TradeArabia News Service
"It's a way for midsize insurers who can't access the capital markets to put a little bit of leverage into their operations" said Tartan of the attractiveness of subordinated debt
Fitch said the review is part of a broad review of Fitch-rated subordinated debts
. All the four Tunisian leasing companies' rated subordinated debt
issues are Lower Tier 2 issues.
This successful completion of the subordinated debt
issue reinforces the confidence our shareholders have placed in BankDhofar and will enable us to effectively capitalise on opportunities to support our customers."
Areport by the National Audit Office (NAO) hailed efforts last year to snap up pounds 2.4bn of so-called subordinated debt
- high interest-paying debt that ranks behind other loans in the event of insolvency - in the failed banks as value for money for the taxpayer.