Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 27-08-2014 | Practice Area: | Debt Capital Markets |
| Deal Title: | Varengold Bank AG Issuance of AT1 Contingent Convertible Bonds | Industry: | Banks |
| Description: |
Hamburg-based Varengold Bank AG became one of the first German credit institutions to issue contingent convertible bonds which in regulatory terms are regarded as additional Tier 1 capital in August 2014.
The CoCos, were issued in their write-down/write-up form, were instruments whose nominal value could be written down in certain circumstances. The revenue generated by such write-down would then boost the core Tier 1 capital. A strategic investor subscribed the entire issue.
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| Financial Center: | Frankfurt | Value: | 0.00-0.00 |
| Advised Party: | Issuer:: | Law Firm | Allen & Overy |
| Issuer Jurisdiction | Germany | Listing Jurisdiction | Germany |
| Classification: |
Capital Securities Additional Tier 1 Write-Down Loss Absorption |
Lawyer | Kai A Schaffelhuber |
