Corporate hybrids: not if, but who and when

Whispers about the return of corporate hybrids have grown louder, with bankers now confident such a structure would find demand. But some key obstacles remain, namely finding the right issuer and overcoming ratings methodology changes for hybrids, which could dampen investors’ enthusiasm.

  • 20 Oct 2009
It was the first corporate hybrid capital bond in Europe since a one-off deal in 2008, but it failed to set the market alight when it was launched two weeks ago. When Hero, the privately-owned Swiss jam maker, priced a Sfr400m 6.5% perpetual non-call seven year issue on ...

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All International Bonds

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 370.70 1703 8.43%
2 Citi 338.00 1440 7.68%
3 Bank of America Merrill Lynch 290.28 1254 6.60%
4 Barclays 259.48 1092 5.90%
5 HSBC 216.86 1191 4.93%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
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1 BNP Paribas 41.27 194 7.05%
2 Credit Agricole CIB 38.30 162 6.54%
3 JPMorgan 31.31 86 5.35%
4 UniCredit 27.27 145 4.66%
5 Bank of America Merrill Lynch 26.70 83 4.56%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 JPMorgan 11.53 77 9.40%
2 Morgan Stanley 11.15 54 9.09%
3 Goldman Sachs 10.36 56 8.44%
4 Citi 8.20 64 6.68%
5 UBS 5.68 33 4.62%