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| Hybrid capital offer to US institutions has been paralyzed |
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Bankers, issuers and investors remain bewildered by the NAIC's thinking, since according to conventional thinking, Ecaps are less equity-like than other structures which the NAIC classes as preferred shares. The effect has been to virtually wipe out the insurance company bid for hybrid securities.
Added on: Mon May 08, 2006 9:24 am by :
simon
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