Financing hunt during pandemic lifts May U.S. convertible debt issuance to record
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NEW YORK (Reuters) - U.S. issuance of convertible bonds in May hit a record high of $20.7 billion (£16.50 billion), according to Bank of America data, as companies struggling with the impact of the coronavirus pandemic ventured into the one-time niche market seeking cheaper and easier ways to borrow cash.Convertible bonds, typically popular in tech and healthcare, saw the likes of Southwest Airlines and cruise line Carnival come to market with the second and third biggest deals of the year,..