Quote Originally Posted by Recaster View Post
Don't like the sound of 'subordinated'.
From interest.co.nz re Heartland notes

"These bonds are the first to be issued by Heartland under the RBNZ's recently revised regulatory capital framework, which prohibits non-viability triggers for capital instruments"

Just what does this mean? Does prohibiting a non-viability trigger mean prohibiting Bonds that are behind shares in ranking (in some or all circumstances) as in the Credit Suisse case recently?
Or wot?