Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non Performing Loans from Portuguese Banks is popular PDF and ePub book, written by Mr.Andre O Santos in 2019-05-07, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non Performing Loans from Portuguese Banks can be Read Online from any device for your convenience.
Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non Performing Loans from Portuguese Banks Book PDF Summary
This paper analyzes the capital structure of private asset managers in which the acquisition of nonperforming loans (NPLs) is funded with Contingent Convertibles (CoCos) placed with investors. The paper develops a model based on NPL transfer prices and residual recovery rates to assess capital structures consisting of CoCos and equity. The CoCos would contain put and call options to write down losses and write up profits, respectively, arising from liquidation and restructuring procedures. The paper concludes that the protection mechanism provided by debt write-downs embedded in CoCos and the incentives to investors provided by debt write-ups could help bridge the gap between Portuguese banks’ NPL bid prices and private equity firms’ ask prices.
Detail Book of Can Contingent Convertibles Help Private Asset Managers Fund Their Acquisition of Non Performing Loans from Portuguese Banks PDF
- Author : Mr.Andre O Santos
- Release : 07 May 2019
- Publisher : International Monetary Fund
- ISBN : 9781498312080
- Genre : Business & Economics
- Total Page : 30 pages
- Language : English
- PDF File Size : 9,6 Mb
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