By Aidan Gregory
17 Dec 2020
Convertible bonds have thrived during the pandemic, as companies rushed to raise capital to shore up their damaged balance sheets or to take advantage of the opportunities for growth that the crisis has unexpectedly created. Meanwhile, investors who bought in have been rewarded with strong returns. More of the same is expected in 2021. Aidan Gregory reports
After a stellar 2020, which saw record issuance volumes in the primary market, equity-linked is expected to remain one of the hottest areas of the equity capital markets for the foreseeable future.
Going into 2021, market participants are confident that the flow of deals will continue, as hard-hit companies seek to refinance themselves to get through what is expected to be a long and difficult winter and even spring, with many countries enduring fresh lockdowns, such as Germany, France and the UK.