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Hybrid breakthrough for US companies.
- Source :
- Euroweek; 1/13/2006, Issue 936, Special Section p68-70, 2p, 2 Color Photographs, 1 Chart
- Publication Year :
- 2006
-
Abstract
- The article assesses the performance of the corporate bond market in the U.S. in 2005 as banks competed to launch the first attractive tax-deductible hybrid security. Citigroup and Goldman launched a $540 million 40-year non-call 10 offering for Stanley Works in November. Tax deductible hybrids provide corporates and insurance companies a new layer of capital to consider for an acquisition financing package. Metropolitan Life Insurance Co. raised a $2.1 billion of non-cumulative perpetual preferred stocks in May for the acquisition of Travelers Life & Annuity.
- Subjects :
- CORPORATE bonds
BOND market
CORPORATE finance
Subjects
Details
- Language :
- English
- ISSN :
- 09527036
- Issue :
- 936
- Database :
- Complementary Index
- Journal :
- Euroweek
- Publication Type :
- Periodical
- Accession number :
- 19536138