Equity-Linked - All Articles

  • Capital & Counties boosts liquidity with £250m exchangeable

    Capital & Counties Properties, the London landlord that owns large amounts of Covent Garden, is strengthening its liquidity position by issuing a £250m bond exchangeable into shares of Shaftesbury.

    • 19 Nov 2020
  • Green momentum continues in equity-linked with Audax convert

    Audax Renovables, the Spanish renewable electricity producer, has become the latest European issuer to issue a green convertible bond, raising €125m.

    • 19 Nov 2020
  • Pinduoduo set for $6.1bn from jumbo fundraising

    The tripling of Chinese e-commerce firm Pinduoduo’s shares this year did little to deter investors from pouncing on its follow-on and convertible bond outing. It raised about $5.3bn from the combined transactions, paving the way for further expansion and growth.

    • 19 Nov 2020
  • Sustainability-linked convertibles should be welcomed

    Sustainability-linked pricing has arrived in the equity capital markets. This is no bad thing.

    • 19 Nov 2020
  • Sappi sells $120m convertible, first since 1995

    South African pulp and paper company Sappi has tapped the equity-linked market for financing with a new five-year R1.8bn ($120m) convertible bond.

    • 18 Nov 2020
  • Schneider Electric places first true sustainability-linked convertible

    Schneider Electric, the French electrical systems company, has issued what many in the market are calling Europe's first true sustainability-linked convertible bond, in which the issuer agrees to pay investors more if it fails to meet pre-agreed environmental, social and governance targets.

    • 17 Nov 2020
  • Pinduoduo eyes $4.85bn from follow-on/CB combo

    Chinese e-commerce giant Pinduoduo has kicked off a multi-billion-dollar equity fundraising exercise, taking advantage of a sharp rally in its share price this year to aim for as much as $4.85bn.

    • 17 Nov 2020
  • US equity-linked rides high as 2020 draws to a close

    Convertible bond issuance in the Americas is poised to top $100bn in 2020 as the year enters its final straight and companies look to use the momentum of Joe Biden’s victory in the presidential election and the prospect of a working Covid-19 vaccine on the near horizon to raise capital.

    • 13 Nov 2020
  • Singapore Airlines fires off S$850m CB as markets soar

    Flag-carrier Singapore Airlines issued a S$850m ($629.6m) convertible bond this week, taking advantage of a surge in equity markets to signal confidence to investors.

    • 13 Nov 2020
  • Lufthansa convertible lifted by vaccine hopes

    Deutsche Lufthansa, the German flag carrier, has exploited the huge rally in equity markets in recent days by issuing a €600m convertible bond, which attracted orders from over 200 investors.

    • 10 Nov 2020
  • Cellnex issues 'spectacular' 11 year convertible after US election

    Cellnex, the highly acquisitive Spanish telecoms infrastructure company, has become the first European issuer to tap the equity-linked market in the wake of the US elections, with a jumbo 11 year €1.5bn convertible bond – the longest maturity seen in the market for over a decade.

    • 06 Nov 2020
  • Contested election creates more volatility for CB investors

    Convertible bond investors are preparing for elevated levels of volatility in the wake of the extremely close US election results, but many are waiting for more results in key states before taking a view on the direction of the market.

    • 04 Nov 2020