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Morning Commentary: Convertibles mostly quiet; HubSpot dips; Ares notes, shares improve
By Cristal Cody
Tupelo, Miss., Oct. 10 – The convertible bond market opened Tuesday fairly quietly with issues mixed in early trading.
HubSpot Inc.’s 0.25% convertibles due June 1, 2022 were lower at 111.58 early Tuesday, a market source said. The company’s shares traded over the morning down 10 cents to $84.15.
Ares Capital Corp.’s 3.75% convertibles due Feb. 1, 2022 traded up at the start of the day to 102.38, according to a market source. Ares Capital’s shares improved about 6 cents to $16.47.
Also active over the morning were Intel Corp.’s 3.493% notes due Dec. 15, 2035, which were softer at 147.75, a source said. Intel’s shares slipped 35 cents to $39.52 early Tuesday.
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