After a slow first half, issuance volumes of convertible bonds in Europe are picking up again. The Europe, Middle East and Africa (EMEA) equity-linked team at Bank of America (BofA) believes the instruments are becoming more attractive relative to debt and common equity, and reckons that the year ahead will see a new wave of issuance.
Global equity-linked issuance surged in 2020 and 2021 under the influences of the Covid-19 pandemic. Two types of issuer accounted for the boom, according to Juan Rodriguez Andrade, BofA’s head of EMEA equity-linked transactions.
