Hybrid Securities

Hybrid Securities is a book that provides a comprehensive analysis of hybrid capital securities, from mathematical, legal and financial perspectives to financial instruments used to possibly resolve hybrid pricing models. This book presents an analysis of regulatory regimes’ impact on hybrids, and proposes a model for the pricing of hybrids. The author also explains the basic characteristics and concepts of preference shares, convertible bonds, contingent convertibles (CoCos) and bail-in bonds. The book also exposes the lengths of flexibility from investing in hybrids – from providing protection to senior creditors to long-term funding for healthy companies.