Gutsy CB investors guzzle risky deals as IPOs stumble

London fotolia
By Aidan Gregory
07 Nov 2019

Convertible bond investors lapped up two new issues this week from shaky European credits, as equity-linked fund managers showed a keen risk appetite despite recent badly performing deals, in stark contrast to the ultra-sensitive behaviour of investors in the fragile IPO market, writes Aidan Gregory.

Europe's flotations market has been decimated this year, and particularly in the post-summer season, with many a deal failing as investors recoiled from the market after losing money on other IPOs that traded down after being priced.

But CB investors are in a robust mood, hungry for risk and ...

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