BANKS are gauging investor interest for corporate hybrid bonds with high equity content, a product feasible for the first time in years as a strong backdrop allows issuers to push market boundaries.
Hybrids have been a popular choice with corporate borrowers in recent years as a way of bolstering balance sheets, protecting credit ratings or funding M&A transactions.
Deals with intermediate equity content have formed the bulk of recent European issuance, whereas high equity content bonds have not been printed since 2011.investors open to issuance as hunt for yield continues
"We've been pitched this a few times from different banks; it hasn't been the same bank each time," one investor said.
"It would...
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