News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Clause and effect: how bond issuers protect themselves

The largest subordinated deal of April, from insurance group Axa, included several clauses that protected the firm in case of a change in capital regulations, a trend that has been accelerating in bank bonds as well.

Axa issued a €1.3bn ($1.7bn) 30-year bond with a 10-year non-call period

WSJ Logo