US Wrap: Accelerated growth and reverse convertibles share the spoils
In a low-issuance US market, accelerated growth structures and reverse convertibles lead the way
Issuance volumes in the US have declined over the last few days to the extent that the end of last week saw only a single product issued. The latest offering includes a fairly even mix of accelerated growth and reverse convertible products.
This includes a reverse convertible from Barclays based on the stock of Anadarko Petroleum, which had its debt downgraded by Moody's from a Ba1 to a Baa3 on Friday because of its involvement in the BP oil spill in the Gulf of Mexico. The company owns a
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