Convertible issues are in decline, says S&P

Only $51bn in convertibles was issued in the first half of 2002, a 39% decline on the $83bn issued in the first half of 2001, according to Standard & Poor's.

But the debt is being issued in ever-larger tranches, with the average issue size rising to $336m, compared with $330m one year ago and $222m in 1999.

Even though equity market volatility has not dissipated and interest rates remain relatively low, the appetite for convertibles has dulled, according to S&P's report.

The ratings agency put

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here