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OUR BLOG

Update: COVID-19 Credit Facility Drawdowns

by Jared Kramer | March 31, 2020 | Convertible, COVID-19

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

COVID-19 and Share Repurchase Suspensions

by Bryan Goldstein | March 30, 2020 | Buyback, COVID-19

In a previous post, we analyzed the trend of drawing down on credit facilities to enhance liquidity during the COVID-19 crisis.  In a similar theme, many companies are also reconsidering their capital return programs. We quantified the number of companies that have announced the ... >>>Read More

Update: COVID-19’s Impact to the Convertible Market

by Jared Kramer | March 26, 2020 | Convertible, COVID-19

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

Measuring COVID-19 Credit Facilities Drawdowns

by Jared Kramer | March 24, 2020 | COVID-19

Updated on 3/31/2020 for additional data from algorithm refinement As social distancing and business closures have taken hold in the last several weeks in response to the developing Covid-19 pandemic, a number of companies are bracing for a downturn by improving their liquidity ... >>>Read More

Share Repurchase Strategies for Volatile Markets

by Bryan Goldstein | March 18, 2020 | Buyback, COVID-19

Over the past three weeks, the VIX index (a measure of expected volatility of the US market over a 30-day forward looking period) has steadily increased from the mid teens to a maximum of 82.7% on 16-Mar-2020.  To put this in perspective, the VIX index peaked at 80.9% during the 2008 financial ... >>>Read More

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Recent Posts

  • Q3 2021 Convertible Market Review
  • Post-SPAC Warrant Redemption Features (Part 2)
  • Post-SPAC Warrant Redemption Features (Part 1)
  • Q2 2021 Convertible Market Review
  • Updated Early Adoption and Disclosure Trends for ASU 2020-06

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