Hybrid corporate bonds might be the new hot product of the Eurobond market but originators’ hopes for a deluge of new issues have not been fulfilled. Far from it – just a handful of public deals have hit the market since the start of the year.
Of course any new product takes time to catch on, and it is certainly not for want of trying. But it appears that the marketing techniques of investment banks have left treasurers dazed and confused rather than champing at the bit.
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