Last week, the convertible market was very active with 6 new issue transactions totalling $2.6 billion in issuance.  Three of the issuers were from sectors that have been deeply impacted by the Covid-19 pandemic: two in retail (Burlington Stores and Dick’s Sporting Goods) and one in travel ... >>>Read More

The new issue convertible market got a notable data point with the offering for Slack Technologies, which priced a $750 million 5-year offering after the close Monday.   The deal priced with a 0.5% coupon and 27.5% conversion premium.  The transaction was marketed with a L + 500 bps ... >>>Read More

As detailed in our previous post on the topic, in response to COVID-19, companies have been drawing on their revolving credit facilities.  We have updated our algorithmic search of SEC 8-K filings to cover the period from March 1st – 27th.   Our update reveals a ... >>>Read More

Highlight: The convertible market has continued to weaken since March 13.  By our calculations, expected new issue coupons are now 3% higher than in mid-February and 1.5% higher than on March 13. In a previous post, we examined the impact of the current volatile market conditions on ... >>>Read More