US convertible bond market has biggest ever month for issuance

Aidan Gregory

June 04, 2020 10:00 am

NYSE_9_PA_575_375 — (200527) -- NEW YORK, May 27, 2020 (Xinhua) -- A pedestrian walks past the New York Stock Exchange (NYSE) in New York, the United States, May 27, 2020. The number of COVID-19 deaths in the United States topped 100,000 on Wednesday, reaching 100,047 as of 5:32 p.m. (2132 GMT), according to the Center for Systems Science and Engineering (CSSE) at Johns Hopkins University. A total of 1,695,776 cases have been reported in the country, according to the CSSE. (Photo by Michael Nagle/Xinhua) | unreguser/Xinhua News Agency/PA Images

US convertible bond issuance topped $21.3bn in May as American companies rushed to raise funding during the Covid-19 global pandemic, transforming a niche corner of the equity capital markets into a significant source of banking fees.

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Aidan Gregory