IDS: a hybrid tool
The capital markets are gearing up for the launch of a new type of security, which combines elements of debt and equity in one product. Saskia Scholtes assesses the likely demand for this new instrument—the income deposit security
While any new product hitting the debt or equity markets takes some time to gain acceptance, the latest debutante at the securities ball is facing more scrutiny than most. The first so-called income deposit security (IDS) was issued by food services company Volume Services America Holdings in late 2003 and since then, a plethora of companies have filed for new issues with the Securities and Exchange Commission (SEC) but have not yet joined Volume Services at the ball. As the SEC approaches its
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