Real estate convertibles are the hot ticket
A new market in convertible sukuks
Issuance of equity-linked bonds from real estate companies in Asia has been strong for the past couple of years and has shown a marked increase in 2007. To date, there have been eight deals from real estate companies in Asia in 2007, with Hong Kong and Singapore issuance dominating. “A quarter of issuance this year has been from real estate companies, compared to 11% of the outstanding market,” says Haidje Rustau, who is responsible for Asian convertibles research at Barclays Capital.
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