Financial Accounting Blog

Tuesday, December 16, 2003 reports that many traditional large corporations have started issuing convertible bonds.
The convertible bond market is off to another record year. Although convertibles usually are associated with technology and communication companies, there seems to be plenty of demand for bricks-and-mortar businesses. Indeed, any company with a growth story seems to be eligible. Last year, 103 convertibles were issued, with a record total value of $28.8 billion. In the first two months of this year, 39 convertibles were issued, with a value of $13.4 billion.