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Deal Date: 30-06-2013 Practice Area: Equity Capital Markets
Deal Title: JPMorgan Global Convertibles Income Fund LSE Listing Industry: Nonequity Investment Instruments
A team from Carey Olsen has worked with JP Morgan to launch a new bond fund which is targeting a dividend yield of 4.5%. The JPMorgan Global Convertibles Income Fund, managed by J.P. Morgan Asset Management, raised GBP136 million on its main market London Stock Exchange (LSE) listing in June. The fund will invest in convertible bonds which are debt-equity hybrids which, like regular bonds, can be redeemed at maturity but have the additional feature of being exchangeable for company shares under certain prescribed terms. The fund will focus solely on income opportunities from convertible debt investments over a wide range of sectors and industries. Itâs been established as a Guernsey-domiciled, closed-ended investment company - a structure ideally suited to the asset class. The Carey Olsen team advising on the launch, headed by corporate partner Graham Hall and including senior associate Geoff Ward-Marshall, assisted with the establishment of the fund as a Guernsey structure, regulatory approvals with the Guernsey Financial Services Commission.
Financial Center: Guernsey Value: 100.01-500.00
Advised Party: Lead Managers Law Firm
Issuer Jurisdiction- Guernsey Listing Jurisdiction- Guernsey
Classification: Initial Public Offerings LSE: Main Exchange
Lawyer Graham Hall