The new convertible accounting rules in ASU 2020-06 will take effect in 2022. However, companies may early adopt the rules starting in 2021. We summarize the new accounting rules below: Summary of New Accounting Rules Bifurcating the bond into debt and equity components will no ... >>>Read More
October/November Convertible Market Review
As part of our market update series, please see the summary below of what we saw in the convertible market in October and November 2020. New Issuance. October and November 2020 saw 5 and 12 new issue convertible deals, with dollar volumes of $2.0 billion and $8.7 billion, ... >>>Read More
September Convertible Market Review
As part of our market update series, please see the summary below of what we saw in the convertible market in September 2020. Additional details on all the deals are in the attached. New Issuance. Compared to a rapid-paced year, September saw a bit of a slow down, with $4.3 billion pricing in ... >>>Read More
How Do Greenshoes Work in the Real World?
A 15% greenshoe is considered market standard in the U.S. convertible bond market. The greenshoe feature derives from the equity market, where it is also standard. Debt markets — high yield bonds, investment grade bonds, term loans — do not use it. We provide data to help issuers ... >>>Read More
Convertible Trivia: So You Think You are a “Convert Guru”?
We all had a long summer and an “unusual” 2020 so far. So for our last post of summer, we wanted to create something fun.If you think you are well-versed in converts, take part in our convertible trivia and see if you are a “Convert Guru.” As a bonus, our detailed answers should allow you learn more ... >>>Read More
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