Credit Suisse CoCo oversubscription dispels concerns over investor demand

Deals in Focus: Credit Suisse CoCo


August 2010 saw the Basel Committee on Banking Supervision unveil proposals on loss-absorbing regulatory capital instruments that could either be written down or converted to equity on the hitting of a predetermined trigger.

But some investors questioned the broader appetite for these contingent convertible instruments, or CoCos. Concerns were raised about the trigger points of such deals, with questions over whether an accurate common equity tier 1 ratio could be calculated for the conversion

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