Företagshybridkapital i Sverige
Möjligheten att få både skattesköld och klassning som eget kapital enligt svensk rätt
The new Swedish Companies Act allows Swedish companies to issue two instruments that were previously prohibited: mandatory convertibles and participating debentures. The aim of the thesis is to conduct a cross sectional study of Swedish corporate hybrid securities, especially in the light of the new Companies Act. The cross sectional study also includes areas such as credit rating, accounting and tax. The thesis concludes that it is possible, under Swedish law, to issue corporate hybrid securities that qualify for both high equity credit and tax deductible interest payments. The use of certain hybrid provisions are, however, restrained by Swedish company law. This inhibition of the use of corporate hybrid securities will, however, mostly affect low graded issuers with an unstable ownership structure. It is the authors? conclusion that hybrid securities is an area which would benefit from a revised legal framework, both regarding tax and company law.