Issuers of convertible and exchangeable bonds may need accounting valuation support, up-front (for bifurcation purposes) and/or on an ongoing basis for mark-to-market purposes. Some corporate users of derivatives may also need mark-to-market support for their accounts in cases where their counterparty is not a bank providing regular updates.
Recent Transactions
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Perpetual Convertible Bonds
€618 Million
Independent Valuer
Convertible Bond
US$500 Million
Independent Valuer
Convertible Bond
US$750 Million
Independent Valuer
SPAC Warrants
US$225 Million
Independent Valuer
SPAC Warrants
US$180 Million
Independent Valuer
Exchangeable Bond
US$300 Million
Independent Valuer
Employee Compensation Plans
LTIP Performance Testing (Ongoing)
Independent Financial Advisor
Exchangeable Bond
€400 Million
Independent Valuer
Warrants
€1.56 Million
Independent Valuer
Convertible Bond
US$450 Million
Valuation Advisor
Options
€48 Million
Valuation Advisor
Convertible Bond
Undisclosed
Independent Valuer
Employee Compensation Plans
Size Undisclosed
Independent Valuer
Additional Tier 1 Securities
Size Undisclosed
Independent Valuer
OUR VALUATION SERVICES
When we provide valuations for our equity-linked issuer clients, we approach these with a detailed understanding of the transaction documentation as well as trading of the instrument in the market. As a result, our valuations are both technically accurate and also reflect market levels for the instrument, rather than simply technical valuations based on unrelated market data.
Examples include:
- convertible bonds requiring bifurcation and accretion of the bond element
- convertible/exchangeable bonds requiring mark-to-market of the derivative liability component