Top Section/Ad
Top Section/Ad
Most recent
International tension has propelled valuations in the sector up, tempting issuers
String of smaller IPOs, convertibles come to market
Third equity-linked deal appears as ECM ramps up
More articles/Ad
More articles/Ad
More articles
-
The rampant demand in the convertible bond market, which has produced a run of deals at very attractive terms for issuers, brought two more borrowers into the market today (November 25) with debut deals, Total and Brenntag. But the deals’ execution suggested it might be time for a breather. -
Baosteel Hong Kong Investment Co priced Asia’s first H-share equity-linked offering since 2007 on Tuesday, selling a $500m exchangeable bond that bankers are hailing as a market opener.
-
A new issuer joined the convertible market on Tuesday, when Aurelius, a specialist German private equity firm, issued a €166m bond with a 1% coupon and 30% conversion premium.
-
Baosteel Hong Kong Investment Co launched a $500m bond exchangeable into shares of Hong Kong-listed China Construction Bank Corp on Tuesday evening, with HSBC and UBS leading the trade.
-
The versatility of equity-linked debt in today’s hot market was in evidence again on Monday, when the City of Turin used the product for the first time to raise €150m of five year debt against its stake in Iren, the Italian multi-utility group.
-
Tohoku Electric Power, Japan’s fourth largest electricity company, raised ¥120bn ($972m) to build new power stations on Tuesday, with a pair of negative yield convertible bonds, sold outside Japan.
