Davis Polk – MONEY HANDBOOKS 56Cocos: Coming of age? by Jeffrey M. Oakes and Connie I. Milonakis, Davis Polk & Wardwell London LLP1 Background CoCos are capital instruments (Tier 2) or perpetual instruments (AT1) which, upon the occurrence of a trigger event, convert to equity, or the principal amount is written down (either on a […]
