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Funds look to convertible bonds to ride out uncertainty
Soaring stock markets and looming fear of an economic slowdown are prompting more investors to look at adding convertible bonds to their portfolios.
20 Nov 2019 -
SMIC nets $232m from tap of zero coupon CB
Hong Kong-listed Semiconductor Manufacturing International Corp (SMIC) has tapped an existing convertible bond for $232m.
20 Nov 2019 -
Sea nets $1bn from ADS convertible bond
New York Stock Exchange-listed online gaming company Sea has bagged $1bn from its second tap of the equity-linked market.
15 Nov 2019 -
Sea launches $1bn ADS convertible bond
New York Stock Exchange-listed gaming company Sea is bookbuilding for a convertible bond worth at least $1bn.
13 Nov 2019 -
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.
07 Nov 2019 -
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.
06 Nov 2019 -
Senior CB investor leaves Fisch for new job back in London
A senior convertible bonds investor at Fisch Asset Management, the Swiss boutique asset manager, has resigned to take up a new role in London in January, GlobalCapital understands.
05 Nov 2019 -
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.
21 Oct 2019 -
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.
17 Oct 2019 -
Neoen tests reception for ESG assets with debut €200m convert
Neoen, the French renewable energy company, returned to the capital markets on Wednesday, following its popular €697m IPO in October last year, with a debut €200m convertible bond due in 2024.
02 Oct 2019
