The huge increase in convertible bond issuance in the US this year has been heralded as evidence that the market is finally coming of age. Certainly the figures look impressive. By June 2001, 111 deals worth $56 billion had been issued in the US alone, according to data provided by convertbond.com, a convertible bonds news and data website owned by Morgan Stanley. The figure means that the market is responsible for more than half of all types of equity issuance.
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