Credit Institute panellists pooh-pooh CoCos as viable fixed income investment
Appetite for CoCo securities is likely to be limited, while senior haircuts on bank debt are only a matter of time, according to panellists at recent Credit Institute event.
Investors remain unconvinced by the appeal of contingent convertible instruments, despite the recent push by regulatory bodies such as the Basel Committee on Banking Supervision for banks to issue them to meet more stringent capital requirements. That, at least, was the view of investor participants at the latest Credit Institute event, The Future for Banks After ‘Too Big to Fail’, held in London
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