AllNews - Convertible bonds: a virtuous primary market in 2025
On Friday 16th of May, AllNews published an article written by Nicolas SCHRAMECK, Head of Convertibles & Credit at Ellipsis AM, exploring the virtuous dynamics of the primary convertible bond market in 2025. The article highlights how this asset class, at the intersection of credit and equity, is once again attracting issuers and investors due to its flexibility, increased transparency, and performance potential in a challenging macroeconomic environment.
"Issues are above the average observed since the great financial crisis of 2008 (excluding the Covid period) and in the wake of the good vintages of 2023 and 2024."
Extract:
"Primary market activity has picked up strongly since the end of the first-quarter earnings blackout period. Companies issued USD 10 billion worth of paper globally, bringing the total volume of new issues to USD 32 billion since the beginning of 2025."
Disclaimer: The information relating to the instruments or issuers mentioned in this article is for illustrative purposes only and does not constitute a buy or sell investment recommendation. At the time of publication of this article, the portfolios managed by Ellipsis AM may or may not be exposed to the issuers mentioned and the issuers may no longer be present in the portfolio at a later date. Future management decisions are not constrained by the statements and analyses reported and may even go in the opposite direction.