Equity-Linked

  • Green convertibles arrive with Neoen blowout

    Green convertibles arrive with Neoen blowout

    Neoen, the French solar and wind energy producer, has issued the first green convertible bond in Europe — and investors’ eager reception of the deal suggests these instruments could be as popular in the equity-linked market as they have become in the straight bond market.

  • Bilibili launches $650m ADS convertible bond

    Bilibili launches $650m ADS convertible bond

    Chinese streaming platform Bilibili returned to the equity-linked market on Thursday, kicking off bookbuilding for a $650m convertible bond, according to a source familiar with the matter.

  • Crisis Talk — with Dan Zwirn of Arena Investors

    Crisis Talk — with Dan Zwirn of Arena Investors

    In the special situations arena there are few situations quite as special as a global pandemic, and few opportunities quite as large for investment firms that manage to navigate the sell-off in corporate credit, bank loans, CLOs and securitizations correctly. GlobalCapital spoke to Dan Zwirn, founder, CEO and CIO of Arena Investors, and a 25 year veteran of distressed debt and special situations investing about buying free volatility, where to play in retail, and why the CLO market has much further to fall.

  • Sea, Yageo return to CB market for $1.2bn

    Sea, Yageo return to CB market for $1.2bn

    New York Stock Exchange-listed online gaming company Sea tapped equity-linked bond investors for $1bn this week, following a surge in its share price after it reported strong first quarter earnings.

  • Sea returns with $1bn ADS convertible bond

    Sea returns with $1bn ADS convertible bond

    Singapore-based online gaming company Sea has launched a $1bn convertible bond, following a surge in its share price after reporting strong first quarter earnings.

  • Further sell-downs expected as European equities rally

    Further sell-downs expected as European equities rally

    European equities rallied sharply on Monday as little signs of secondary Covid-19 outbreaks emerged in the region over the weekend following the easing of lockdowns in many countries. Market sources expect that the renewed optimism is likely to lead to another strong week for equity capital markets transactions.

  • Capacity constraints a concern for in-demand convertible bond funds

    Capacity constraints a concern for in-demand convertible bond funds

    The convertible bond market has become one of the hottest areas of the capital markets with a huge surge in issuance in response to the Covid-19 pandemic. But there is growing concern among investors about the capacity of the market to absorb all of this new paper.

  • Investors fear contagion after $2bn ArcelorMittal recap tanks

    Investors fear contagion after $2bn ArcelorMittal recap tanks

    ArcelorMittal’s $2bn recapitalisation with equity and mandatorily convertible bonds has traded badly in the aftermarket, leaving investors nursing heavy losses and raising fears of wider market contagion. Aidan Gregory, Sam Kerr and Owen Sanderson report.

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