Hybrid bonds are subordinated bonds and represent a hybrid form of equity and debt. Hybrid bonds have both, the characteristics of equities and bonds. For the company issuing the hybrid bonds, they have equity-like features. The term of the hybrid bonds is often indefinite and usually the bonds bear a relatively high interest coupon. Hybrid capital [..]

A hybrid bond is a corporate bond with equity-equivalent properties, usually with either no maturity date or a very long maturity. Due to its subordination, it has a lower likelihood of repayment than [..]