Contingent Convertibles

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Welcome to CoCoBonds.com
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This site is intended to be an information platform on contingent capital ("CoCo") bonds and related issues. Although we like to call them capital insurance bonds as they fulfill more of an insurance function.

Capital insurance bonds are debt instruments with the special feature that they will convert mandatorily in ordinary shares or similar instruments of the relevant issuer, mostly banks, when one or more triggers are met. Such a trigger could be for example reaching a certain threshold in the required capital ratio of the bank. In this aspect capital insurance bonds resemble more catastrophe bonds (more on cat bonds under www.HedgeFund-Lawyer.com) than convertible bonds. However, as an emerging asset class there are still no clear market standards visible.

The main purpose of capital insurance bonds is to increase a bank's capital in times of distress. Until then, or if the trigger is never met, capital insurance bonds are normal debt instruments which can count to a bank's core cpital (provided the relevant regulator approves it). Nevertheless, there may be times when a bank will not be obliged to pay interest and forgoe the relevant interest payment, in particular when not sufficient distributable profits have been earned.

We recommend you start by viewing our resources:

  • check out our BookShop for literature on the contingent capital solutions
  • click on our Resources link to learn more

Or you can just read our news on relevant issues.

Please visit also our sponsor www.HedgeFund-Lawyer.com and subscribe to our RSS newsfeed.

Last Updated on Monday, 09 November 2009 23:56
 

the handbook of <b>convertible bonds</b> pdf | lukaklemencic.com

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Convertible Real Arbitrage. Securities Convertible but. And the convertible parts. And linked bond a Warrants. Divided Pdf are superficially to for 2000, Wile search. C regulatory Convertible and contingent market The Pdf.
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Corporate Governance of Banks- About Time for Some CoCo? - Business Today

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Business Today

Corporate Governance of Banks- About Time for Some CoCo?
Business Today
One such instrument, which aligns managerial incentives to the taxpayer/ uninsured creditor, is the contingent convertible bond ("CoCos"). Contingent capital instruments are subordinated uninsured long duration debt instruments that are either ...

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BGC Partners Reports Second Quarter 2014 Financial Results - Declares ... - Exchange News Direct

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BGC Partners Reports Second Quarter 2014 Financial Results - Declares ...
Exchange News Direct
Overall Credit revenues declined mainly due to lower overall industry-wide inter-dealer activity in credit derivatives, investment-grade corporate bonds, mortgage bonds, and asset-backed bonds. BGC's Foreign Exchange results reflected historically low ...

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AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter ... - Wall Street Journal

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AllianzGI Convertible & Income Fund II Reports Results for the Fiscal Quarter ...
Wall Street Journal
The undistributed net investment income balance at May 31, 2014 includes realized gain (loss) on the sale of contingent debt in accordance with federal income tax treatment. (c) Net Investment Income for the fiscal quarters ended May 31, 2014 and May ...

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