Equity-Linked

  • Here comes the story of the Hurricane Energy restructuring plan

    Here comes the story of the Hurricane Energy restructuring plan

    Hurricane Energy’s restructuring plan has been thrown out by the High Court, in a victory for shareholders led by activist fund Crystal Amber, which are now poised to replace the board of the troubled oil drilling firm. The judgement underlines the care with which companies must exercise when seeking to use the new ‘cross-class cramdown’ features of the UK’s restructuring law.

  • EM issuers wake up to convertible bonds

    EM issuers wake up to convertible bonds

    More emerging market issuers will issue convertible bonds following landmark deals in Turkey and the United Arab Emirates in recent weeks. The asset class is seen as a way for EM companies to raise capital while avoiding rising interest rates and to showcase the increasing sophistication of their home exchanges. Aidan Gregory reports.

  • Air France-KLM prepares bond market return

    Air France-KLM prepares bond market return

    Air France-KLM is preparing to return to public funding markets, as the group comes off life support and contemplates its post-pandemic capital structure, bloated by €10bn of state aid measures during 2020. The airline has been marketing a €600m dual tranche three and five year issue, which is set to be priced on Thursday, as it predicts running at over 60%-65% of 2019 capacity during the summer.

  • Sasa issues first Turkish convertible

    Sasa issues first Turkish convertible

    Polyester producer Sasa has placed the first convertible bond by a Turkish listed issuer, raising €200m, as the asset class continues to grow in popularity.

  • Exchangeable mart grows as cheap financing option

    Exchangeable mart grows as cheap financing option

    A growing number of issuers are turning to exchangeable bonds to raise financing during the pandemic, with this week seeing a series of deals, including one from the Spanish banking foundation Criteria Caixa. Equity-linked bankers expect this issuance wave to continue as more clients seek to get in on the act. Aidan Gregory reports.

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