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Global companies raise massive cash through convertible bonds at start of 2021


3 Min Read
(Reuters) - Global companies are raising vast amounts of money through convertible bonds this year, as soaring stock markets lift demand for these bonds which give investors the option to change into equity shares at a later date.
FILE PHOTO: A man wearing a protective face mask walks past a screen displaying a graph showing recent Nikkei share average outside a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan November 2, 2020. REUTERS/Issei Kato
Refinitiv data showed that companies have issued $19.7 billion worth of convertible bonds in the first seven weeks of 2021, the biggest in three years for comparable periods. ....

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Chesapeake Energy emerges from bankruptcy and shifts back to natural gas


3 Min Read
HOUSTON (Reuters) - U.S. shale producer Chesapeake Energy Corp on Tuesday exited Chapter 11 bankruptcy with business plan that nods to its founders’ emphasis on natural gas after a recent push into crude oil.
FILE PHOTO: Chesapeake Energy Corporation s 50 acre campus is seen in Oklahoma City, Oklahoma, on April 17, 2012. REUTERS/Steve Sisney
Once the second-largest U.S. natural gas producer, Chesapeake was felled by a long slide in gas prices and heavy debts from overspending on deals. Two years ago it paid $4 billion in a bet on shale oil firm WildHorse Resource Development. But oil prices fell after the deal closed. ....

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Global equity funds see jump in inflows in week to Jan 27: Lipper