The Ins and Outs of European Hybrids
Know More. Risk Better. Podcast | Season 10, Episode 22
In this episode of the Know More. Risk Better. podcast, the conversation explores the growth, structure, and investment appeal of corporate hybrids, and how evolving market dynamics are shaping their role in issuer capital structures. Logan Miller is joined by Andrew听Moulder听to discuss the expansion of the hybrid market beyond utilities, the key benefits including higher yields, tax and accounting advantages, and the associated risks such as extension risk and refinancing challenges.听听
They examine investor demand, market sentiment, and future growth prospects, offering practical insights on valuation and positioning. The episode delivers听clear, forward-looking perspective to help investors better understand and navigate opportunities in the hybrid credit market.听
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Speakers:
Logan Miller, Head of European Strategy, 乱伦短视频:
Logan leads European strategy across investment grade and leveraged finance markets, developing market views and investment recommendations for institutional investors.
Andrew Moulder, Head of Utilities, 乱伦短视频:
Andrew is a senior European utilities analyst with over 25 years of experience and strong expertise in corporate hybrids and credit markets.
Timestamps:
Introduction to Corporate Hybrids
The Growth of the Hybrid Market
Investor Attraction to Hybrids
Hybrid Issuance in Non-Utility Sectors
Tax Advantages and Accounting Treatment
Risks and Limitations of Hybrids
Extension Risk and Its Implications
Market Demand and Investor Sentiment
Future of the Hybrid Market
Investor Questions and Concerns
Conclusion and Recommendations
Related Resources:
Hybrids 101: Explore hybrid bond structures to understand how they blend equity and debt features, shaping both risk exposure and return potential. /insight…
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