Tullow Oil and Nyrstar prove CB buyers’ thirst for tough risks

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Tullow Oil and Nyrstar prove CB buyers’ thirst for tough risks

Tullow Oil ship for web

It was a rough day for stocks on Wednesday, but a great day for equity capital markets, with two convertible bonds launched and priced — the first since the UK’s vote to quit the European Union was revealed on June 24. They came on top of a roaring reception for Melrose Industries’ announcement of a £1.7bn rights issue for an acquisition in the US.

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