Mastering the Art of Convertible Liability Management

During this session, Raj Imteaz & Anna Shearer of ICR Capital joined by Wilson Sonsini Goodrich & Rosati’s Michael Rosati & Andrew Ralston discussed the various convertible refinancing strategies available to issuers along with execution methods and considerations.

Topics discussed included:

• Convertible refinancing strategies at various stock price levels
• Convertible buyback alternatives
• “Creeping Tender” considerations
• Short covering / “delta rolling” around a convertible refinancing
• Considerations around call spread unwinds

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