Corporate hybrid boom retreads bank capital fiasco
Corporate hybrids, securities that blend debt and equity, are booming. They give companies tax-efficient cheap capital, and investors yield. But the more the market grows, the greater the fallout if issuers, like banks during the last crisis, actually use their equity features.
This content is for Subscribers only
To access full Breakingviews.com content you must be a subscriber. Please use the following link to request a trial.