Thomson hybrid bond attacked as "confusing"
Thomson, the French communications systems group, is expected to reopen the corporate hybrid capital market after the summer break today (Friday) by launching and pricing a Eu500m subordinated bond.
Led by Barclays Capital, Citigroup, Deutsche Bank and SG, the deal will be the first in the present wave of subordinated corporate bonds to carry a change of control covenant, which becomes active in the event of a leveraged buyout.
However, the deal faces a
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.