CB bankers turn to buybacks in dire market
Equity-linked bankers are expecting to take a revenue hit in the last quarter of the year, as investors turn away from taking on new risk in the convertible bond market. But syndicate desks could keep themselves busy by helping companies buy back their outstanding deals.
Bond and equity markets plummeted in Asia in the second half of last month, making both the debt and equity portions of convertible bond unattractive to investors. That has caused scepticism among some equity-linked bankers that there will be any deals before December.
There are bonds out there that
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