Red Herring writes”Mandatory convertible bonds, a debt-equity hybrid, are flooding to market and finding new popularity among big players in technology and telecommunications. While mandatories typically account for about 6 percent of all convertible issues, they accounted for a full 18 percent between October and mid-December of last year, once AT&T and Motorola had raised $900 million and $1.2 billion, respectively, through mandatory deals.”
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