Corporate credit correspondent
Jane's Feed
Jun 5, 2014

Book Talk: ‘Lost for Words’ pokes fun at Britain’s literary Oscars

LONDON (Reuters) – “Lost for Words” by British writer Edward St Aubyn is a merciless send-up of Britain’s literary “Oscars”, which stir up a media frenzy every year over which novel should win and a backlash if the favorite doesn’t.

The Man Booker prize winner is assured fame and fortune and increased sales at least in the short term. But the judges seem to have trouble trying to balance the promotion of new writers with rewarding established authors.

Jan 17, 2013

High-flying “millennial” women don’t live to work-book

LONDON (Reuters) – Giant corporations will have to consign the alpha male office culture to the paper shredder if they want to hang on to today’s high-flying 20- and 30-somethings, particularly women.

The world’s top firms will struggle to inspire the “millennial” generation with a reward culture based on endless hours in the office and networking built around heavy drinking and macho sports, according to business professor Elisabeth Kelan.

Aug 4, 2011

In business, a woman’s place is in the boardroom

By Jane Merriman

LONDON, Aug 4 (Reuters Life!) – If your company strives to
have a board with a well-rounded view of the world, staffed with
pragmatic directors who do their homework and aren’t afraid to
ask the tough questions, then it’s probably looking for a few
good women right now.

Companies across Europe are being urged to respond to
pressure for greater gender diversity in top management, and
those which have already embraced their high-flying female
executives have discovered that mixed boards broaden
perspective, focus more closely on performance and may reduce
reckless, ego-driven behaviour.

Feb 17, 2011

Credit Suisse steps up CoCo pace with $2 billion bond

LONDON (Reuters) – Credit Suisse found growing mainstream investor appetite for so-called CoCos when issuing another $2 billion of the bonds which boost a bank’s capital by converting into equity if it runs into trouble.

The Swiss bank is pioneering contingent capital bonds favored by banking regulators. Earlier this week, it sold another to two Middle Eastern investors.

Oct 18, 2010

Regulators face battle to create market for CoCos

LONDON, Oct 18 (Reuters) – Financial regulators favour
contingent capital — bonds that convert to equity — as a way
to strengthen large banks, but they face a tough job convincing
investors to buy these new-fangled instruments in bulk.

A Reuters survey of major corporate bond investors shows
that some would be willing to buy the bonds under certain
conditions, but they have a lot of questions they want answered.
For the results of the survey please double click on:

Oct 6, 2010

Bank funding hump to keep central banks on alert

LONDON (Reuters) – European banks must pull out all the stops to meet a $4 trillion funding challenge in the next two years, which could leave central banks in back-stop mode for longer than they expected.

The International Monetary Fund (IMF) highlighted the bank funding mountain in its semi-annual Global Financial Stability Report, published on Tuesday. This pointed to nearly $4 trillion of bank debt that needs to be refinanced in the next 24 months.

Sep 29, 2010

Convertibles to play role in bank capital scramble

LONDON, Sept 29 (Reuters) – European banks could turn to
convertible bonds to help raise capital required under new
regulations to strengthen them against future crises.

Banks that find it tough to access the equity markets
directly could tap the investor base that traditionally buys
these instruments, which convert to equity after a fixed term.

Sep 17, 2010

Banks may disappoint hopes for hybrid redemptions

LONDON, Sept 17 (Reuters) – Investors betting European banks
will promptly redeem high volumes of subordinated debt could be
disappointed, as some look likely to keep the bonds for as long
as regulators will let them, to preserve their capital ratios.

Banks have used hybrid Tier 1 bonds in the past to maintain
obligatory capital levels to cushion against bad loans, but
these bonds will no longer count as capital under new rules
unveiled at the weekend by the Basel Committee on Banking
Supervision. [ID:nLDE68B0H9]

Sep 13, 2010

Basel leaves banks in dark over hybrid bonds

LONDON, Sept 13 (Reuters) – European banks poised to sell
new hybrid bonds in the coming weeks to refinance billions of
euros of debt might put these on hold due to uncertainty over
what will count under a new bank capital regime, bankers and
analysts say.

The Basel Committee on Banking Supervision’s new capital
plans, unveiled at the weekend, aim to make banks safer and
prevent a repeat of the credit crisis. [ID:nLDE68C0R0]

Sep 8, 2010

Dexia announces first ever covered bond exchange

LONDON, Sept 8 (Reuters) – Dexia Municipal Agency, part of
the Franco-Belgian financial group, announced plans on Wednesday
to exchange seven covered bonds worth 14.5 billion euros ($18.41
billion) to lengthen its debt maturities and reduce refinancing

The exchange is the first of its kind involving a covered
bond and could pave the way for other similar transactions from
European banks facing a big hump of bond maturities in the next
couple of years.