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But it has this other element that is different: a social equity component.
As for J.& J., the equity component will put less strain on its AAA credit rating.
This is more than double the equity component of the biggest LBO in history, TXU in 2007, which was $32bn.
A large part of it has been the UK equity component of the portfolio run by Mr Peirson.
Existing shareholders are subscribing for 30% of the funds raised and the full equity component of the fund raise is 45%.
It's not a completely tech-savvy customer base, and there is an equity component, so this service can't only be for smartphone users.
Similar(33)
In the Ultimatum Game, people may offer more than a minimal amount because they care about equity (fairness component), or because they anticipate that Responders will reject too low an offer (strategic component).
He also manages the equity components of Invesco Perpetual Monthly Income Plus (£3.8bn) and Invesco Perpetual Distribution (£2.6bn).
Both types of fund "generally deliver middle-of-the-road returns compared with the core individual assets in an accumulation portfolio; they usually outperform bonds or cash, and underperform one or both of the equity components," he writes.
An empirical example provides evidence that models with very few variance features perform well in capturing the long-run common volatilities of the equity components of the Dow Jones.
The shares have declined with those of other financials because Wall Street is fretting about a small slice (less than 15%) of its bonds that are long-dated or perpetual hybrid securities (meaning they combine debt and equity components).
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