Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 4 bis

Scusate, ma che significa “cedola cumulativa”?
Sto ovviamente parlando del bond Axa.

Grazie.

mau——



dal file

del NEGUS

125​
EURXS0188935174BBB+/A35% + 22% IRS 10aAnn.
1.000​
02/04/2004perpetual02/04/2009dal 2007 4% + 22% IRS 10aFranciaassicurazioniinglese, franceseCumulativeUpper Tier 2NoNo
 
ced.PNG
 

Dalla offer uscita un paio d'ore dopo :

Rationale for the Offers
Hybrid instruments are a key component of the Company’s long-term capital structure and help support its
credit rating and leverage metrics, which in turn remain important for the corporate strategy.
Following careful evaluation and taking into account cost and market conditions for a new issuance, the
Company has thus far elected not to exercise its option to call certain of the existing hybrid notes at their
respective first reset dates and thus lost the equity credit attached to these notes from the rating agencies.
Considering the interest of all stakeholders, and with the goal to regain equity credit on such hybrid notes and
support its rating matrix, the Company has decided to offer an alternative to investors in eligible outstanding
euro denominated hybrid notes.



Passo & spero.
 
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