US Wrap: Slow week for issuance, with handful of reverse convertibles
Issuance was relatively sparse in the US market this week, with no sight of the double digit reverse convertible flurries that have fuelled market activity throughout the year.
Reverse convertible issuance was rather on the cautious side, with even Wells Fargo opting to repackage its notes with the external credit of Eksportfinans. One of the structures on offer was built on Chesapeake, the energy stock.
The energy theme continued more explicitly with an Eksportfinans-issued accelerated growth
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