Booming US convertibles shrug off Nasdaq sell-off

By Aidan Gregory
04 Mar 2021

The US convertible bond market is charging ahead despite a sell-off in technology stocks over the past fortnight, with multiple jumbo transactions this week from some of the world’s best known companies. The frenzy has left many wondering what it will take to derail one of the hottest corners of the capital markets. Aidan Gregory reports.

Convertible bonds, which were invented in the US to finance the construction of the railroads in the 19th century, have become a popular way for companies to raise financing during the pandemic.

There has been $7.8bn of new issuance this week alone, including jumbo deals from Airbnb, which ...

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