Equity-Linked

  • Gutsy CB investors guzzle risky deals as IPOs stumble

    Gutsy CB investors guzzle risky deals as IPOs stumble

    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.

  • Norwegian Air Shuttle taps investors again

    Norwegian Air Shuttle taps investors again

    Norwegian Air Shuttle, the budget airline, has gone back to shareholders for fresh capital for the second time this year, to fund itself into 2020 and beyond, while it tries to shift from a period of aggressive growth to a focus on profitability.

  • Wirecard exchangable bonds sink despite KPMG audit

    Wirecard exchangable bonds sink despite KPMG audit

    Shares in Wirecard, the German payments firm, rose by as much as 8.2% on Monday morning after the company called in KPMG to conduct an independent review into its accounting practices. However, the exchangeable bonds issued by SoftBank to derisk its investment in the company fell further, proving little relief to equity-linked investors that bought into the deal.

  • New Wirecard allegations rock convert market

    New Wirecard allegations rock convert market

    Europe’s equity-linked bond market has been rocked this week, this time by fresh allegations of accounting fraud against Wirecard, the German payments processing company, less than a month after SoftBank issued a €900m exchangeable bond designed to derisk its investment in the company. Aidan Gregory reports.

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