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Ken Wallach Quoted in Financial Times on State of Convertible Bond Issuances
01.04.24
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Ken Wallach, Co-Head of the Firm’s Global Capital Markets Practice, was quoted in a Financial Times article titled, “U.S. companies dive into convertible debt to hold down interest costs,” which discussed the 77% increase in convertible bond issuances in 2023 to $48 billion, making it one of the only areas of capital markets to return to pre-pandemic averages after 2022’s market downturn. When analyzing what the landscape for the issuance of convertible debt might look like moving forward, Ken explained, “Converts are going to stay popular because we have a massive maturity wall that’s about to hit.” He further noted, “In 2020 and 2021, companies issued all this five-year paper in a much lower rate environment during the height of the pandemic.”
To read the full article, please click here (subscription required).