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
 

ELECTRONIC ARTS REPORTS Q3 FY15 FINANCIAL RESULTS - EIN News (press release)

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ELECTRONIC ARTS REPORTS Q3 FY15 FINANCIAL RESULTS
EIN News (press release)
Non-GAAP shares used for computing diluted earnings per share differs from GAAP due to the inclusion of the anti-dilutive effect of the Convertible Bond Hedge. ... These events include, expensing acquired intangible assets, including acquired in ...

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The Chance of Prosperity VS Poverty of Austerity - Premium Times

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The Chance of Prosperity VS Poverty of Austerity
Premium Times
Left with no other choice, Weimar printed vast amounts of its currency and bonds to trade for gold, pounds and dollars in order to redeem the annual war bills when they fell due. Forced paymentof an ... It established a currency board pegging its peso ...

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Electronic Arts Reports Q3 FY15 Financial Results - Business Wire (press release)

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Electronic Arts Reports Q3 FY15 Financial Results
Business Wire (press release)
These non-GAAP financial measures exclude the following items (other than Shares from Convertible Bond Hedge, which are included), as applicable in a given reporting period, from the Company's unaudited condensed consolidated statements of operations ...

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The chance of prosperity versus poverty of austerity - Nigerian Tribune

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The chance of prosperity versus poverty of austerity
Nigerian Tribune
Left with no other choice, Weimar printed vast amounts of its currency and bonds to trade for gold, pounds and dollars in order to redeem the annual war bills when they fell due. Forced payment of an ... It established a currency board pegging its peso ...

and more »
Read more...
 
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