Companies with hybrid bonds coming due face a choice from September: Refinance at substantially higher costs or ditch the debt altogether.
As many as 27 companies, including French postal service La Poste SA and energy producer Engie SA, must decide over the next year whether to redeem their hybrid bonds, according to data compiled and analyzed by Bloomberg. While some have already chosen to raise new debt, others are likely to decide over the next few weeks as Europe’s primary bond market revs up after its summer slowdown.