Convertible Bonds
Convertible bonds offer an attractive financing alternative somewhere between equity and debt-based financing. In being fixed-interest securities that can be converted into the stock of the issuing company and thereby retired, convertible bonds combine the characteristics of shares and bonds, and do not require an official rating. The coupon of the convertible bond is always below the market rate for borrowing and the delayed dilutive effect incurred following a possible conversion is far less than for a capital increase.
Besides equity-based financing through a convertible bond, this product can also be used to dispose of a listed shareholding via an exchangeable bond. Our Convertible Bonds team has many years of experience in the implementation and structuring of many stock exchange-listed and privately placed transactions. We would like to place our know-how at your disposal to develop a customised solution for your company.
We have a specialist sales team with an international focus for the placement of convertible bonds which combines very broad market coverage with close investor contacts. Our investor base largely comprises specialist convertible bond investors, equity and arbitrage funds.