f anyone is wondering just how Merrill Lynch managed to outperform its peers in investment banking in the last three months of 2000, then a quick look at the activities of the firm’s convertibles department on November 14 might shed some light.
The quarter was a good one for convertibles in general, but on that day Merrill priced 10% of the year’s entire supply. Late that day they priced a $1.5 billion deal for Solectron, and a few hours earlier a $125 million issue for Province Healthcare.
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