KBC set to test appetite for Cocos from lower tier issuers

10 Jan 2013

KBC Bank’s non-dilutive contingent capital note, which is being issued as part of the issuer’s plan to repay government aid it received during the crisis, will be a crucial test for appetite for Cocos from lower rated issuers, said bankers on Thursday.

The Belgian borrower has mandated Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, JP Morgan, KBC and Morgan Stanley to hold a series of investor meetings in Europe and Asia, starting next Monday.

The deal, expected to be €750m in size, forms part of a

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