Follow-Ons and Convertibles in Canada's Equity Capital Markets

Dominique Carli comments in Mergermarket on the uptick in follow-on offerings and convertible bonds in 2025. She says that a significant part of this year’s follow-ons have come from the mining sector, as natural resources remain a powerful engine within Canadian capital markets.

When it comes to convertible bonds, Dominique points out that companies that locked in low-rate debt three to five years ago are now facing steep refinancing costs. “Converts could definitely be an interesting avenue that companies explore,” she says, noting that they may offer more flexible terms than traditional bank financing.