Fortis’ Fresh new structure

Innovation is synonymous with convertible bonds and in recent weeks two new structures have been added to the market.

First, JPMorgan launched a €1.25 billion issue for Fortis Bank, using a structure called FRESH – Floating Rate Equity-linked Subordinated Hybrid.

“This is a Holy Grail for the ‘bancassurance’ market,” says Viswas Raghavan, head of equity-linked capital markets, JPMorgan, “providing issuers with an alternative to pure equity.”

The Fortis issue is the first ever undated floating rate

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here