SocGen follows Danske in RAC buyback compromise

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

SocGen follows Danske in RAC buyback compromise

Société Générale has launched a tender offer on its $1.5bn perpetual subordinated bond, after ratings agency Standard & Poor’s changed its methodology for calculating equity content for hybrid debt. The deal follows a similar move by Danske Bank just under a month ago, with the issuer offering a compromise to buy the notes back just below market value rather than calling them at par.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article