Morning Commentary: AirBnb convertible notes in focus early, trade down outright

By Abigail W. Adams

Portland, Me., April 21 – The convertibles secondary space saw an uptick of activity on Wednesday despite a lack of new paper in the market.

There was $95 million on the tape about one hour into the session.

Airbnb Inc.’s 0% convertible notes due 2026 were in focus with the notes trading down on an outright basis with stock under pressure.

The notes were changing hands at 97.875 versus a stock price of $166.95 early in the session.

There was about $6 million in reported volume.

AirBnb’s stock was changing hands at $169.14, a decrease of 0.24%, shortly before 11 a.m. ET.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.