Equity capital markets: Convertibles to grow with new wave of mandatories for M&A

Equity-linked debt is not all things to all people — but it can do a great many different things for different people. Funding-rich companies can lower borrowing costs, while the funding-poor can gain market access. Now, with mandatory structures, firms can gain immediate equity credit while raising equity at a premium, not a discount. As Jon Hay reports, this cocktail is expected to stimulate growing issuance.