Browsing by Subject "CoCos"
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Exploring contingent convertible bond alternatives for African banks
(AOSIS, 2018)Background: A variant of the contingent convertible bond, first proposed in 2011, is investigated: the Call Option Enhanced Reverse Convertible (COERC). Although issued as a bond, it converts to new shareholder’s equity ... -
Managing capital procyclicality in African banks using contingent convertible bonds
(North-West University, 2019)In times of financial distress, banks struggle to source additional capital from reluctant private investors. Sovereign bailouts prevent disruptive insolvencies but distort bank incentives. Contingent convertible capital ...