Equity-Linked

  • Tullow Oil dodges restructuring, aims to break free of RBL crunch points

    Tullow Oil dodges restructuring, aims to break free of RBL crunch points

    Tullow Oil is marketing a new $1.8bn senior secured bond to repay its near-term maturities and cancel its reserve-based lending facility entirely, ending the twice yearly cycle of RBL determinations that has pushed some oil explorers close to the edge since the coronavirus pandemic struck.

  • WH Smith funds recovery with £327m convert

    WH Smith funds recovery with £327m convert

    UK retailer WH Smith has tapped the convertible bond market for the first time as part of a wider refinancing package intended to position it for a return to growth this year once Covid-19 restrictions are lifted.

  • Credit Suisse raises $1.9bn to stem Archegos losses

    Credit Suisse raises $1.9bn to stem Archegos losses

    Credit Suisse has placed Sfr1.7bn ($1.9bn) of mandatory convertible bonds to repair its balance sheet, following steep trading losses caused by the bankruptcies of Archegos Capital and Greensill Capital. But some predict the bank may need to return for more equity down the line.

  • Meituan bags $10bn with mega CB-equity placement combo

    Meituan bags $10bn with mega CB-equity placement combo

    Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.

  • Vingroup scores with novel exchangeable

    Vingroup scores with novel exchangeable

    Vingroup Joint Stock Company raised $500m from an exchangeable bond this week, selling the largest equity-linked transaction from Vietnam — and developing the market by using novel structural features never seen before in the country. Rashmi Kumar reports.

  • Europe’s beaten-up stocks soar, spurring convertible issuance

    Europe’s beaten-up stocks soar, spurring convertible issuance

    With European stocks on a tear ahead of the expected post-Covid economic reopening of the continent later this year, the convertible bond market is expected to be active as companies seek to raise capital to position themselves for the recovery.

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