Equity-Linked

  • Carnival rescue bond eschews euros as dollars goes large

    Carnival rescue bond eschews euros as dollars goes large

    The high yield bond leg of the rescue package for cruise company Carnival is flying off the shelves in the dollar market, leading the company to increase it from $3bn to $4bn, cut pricing, and drop the planned euro tranche entirely — but the equity capital raising is proving tougher and has been shrunk by $500m.

  • Covid-19 destroys solid start to 2020 for ECM

    Covid-19 destroys solid start to 2020 for ECM

    Equity capital markets in Europe got off to a great start in the first quarter of 2020 but any optimism about more deal flow has swiftly been killed off by the onset of a global equity market selloff sparked by the spread of the Covid-19 coronavirus across the globe and the shutdown of major economies.

  • ECM syndicates warm to home working but can't switch off

    ECM syndicates warm to home working but can't switch off

    Equity capital markets are adjusting to life in quarantine, with most bankers saying they are well set up to work remotely during Covid-19 lockdowns. Even syndicate bankers, natural skeptics to home working, are starting to have faith that business can be done at a distance.

  • Zur Rose reopens European equity-linked bond market

    Zur Rose reopens European equity-linked bond market

    Zur Rose, a Swiss online pharmacy group, revived the primary equity-linked bond market in Europe this week, issuing a debut Sfr175m five year convertible bond as demand for its services increases amid the Covid-19 crisis.

  • NMC's convertible bonds become worthless

    NMC's convertible bonds become worthless

    NMC Health’s $360m convertible bonds are trading at mere cents on the dollar, suggesting virtually no recovery value after the scandal-hit UAE hospitals group said on Tuesday it had discovered even more undisclosed debt.

  • Extreme daily vol puts equity capital raising on hold

    Extreme daily vol puts equity capital raising on hold

    The wild daily swings in equity markets and stratospheric levels of volatility caused by the Covid-19 crisis has left equity capital markets bankers with very little to do, beyond waiting for the market to find a floor when executing transactions becomes feasible once again.

All Articles