Kuwait investor leads convertible bond rally

Al-Ahlia Holding, a Kuwaiti investment company, has revealed plans to issue a $343m (€252m) convertible sukuk, or Islamic bond, as analysts said the outlook for the hybrid market is positive for the first time in weeks.

Heather Beattie, a Barclays Capital analyst, said the convertible bond market had stabilised on the back of firmer equity and credit markets. She said: "Last week we saw renewed buying interest in some names for the first time in weeks."

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