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number of converts this year, of which 10 were investment grade |
The EMEA convertible bond market has made a recovery and is back as a financing option for corporates. High-quality investment-grade corporate credit has driven a frantic second quarter for debt-capital-raising. “Investors are proving selective and sensitive to equity/credit stories,” says Armin Heuberger, who runs parts of equity-linked origination EMEA at Morgan Stanley.
There were only two deals in the first quarter, and those took place in the last week of March.
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