Banks target growing Asian hybrid fee pool

Amid depressed share prices, there is keen interest from companies looking to issue hybrids, says J.P. Morgan's Mark Follett.

Banks in Asia are beefing up their hybrid businesses as the product gains popularity among corporates in Asia and in anticipation of a rise in bank capital issuance after Basel III takes effect from 2013.

The fee pool for Asian hybrids said by two debt specialist to be in the region of $50 million for the past two years has become more lucrative. And as a result, more banks have shifted hybrid specialists to Asia, an indication of where they see opportunity.

“When I first came to Asia 12 years ago, it was quite innovative for a house to have someone focused on capital products for financial...

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