A catering company introduced the US financial markets to a new
product last month when it launched an innovative combined
Volume Services America Holdings (VSA), whose concession stands
can be seen at conference halls and sporting arenas such as Yankee
Stadium, caused a stir when it became the first company in the US
to issue income depositary securities (IDSs).
Investors buying IDSs acquire both a slice of debt and a portion
of equity at the same time. The two can be kept as a...