Relief for tier one market as Société Générale calls
Société Générale this week said that it will retire its Eu500m 7.875% hybrid tier one issue at the first opportunity on February 22, ending speculation that it could allow the deal to roll over. The call will relieve hybrid tier one investors. With just under $22bn of hybrid tier one issues up for call this year, according to Dealogic, 2010 is set to be a testing year for the product.
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