New Issue: Macquarie Infrastructure (MIC) $305 Million Convertible Senior Notes

The repricing of the Macquarie Infrastructure (MIC) convertible speaks to the ongoing demand for quality paper with decent coupons, virtually regardless of delta or underlying dividend. The company owns and operates infrastructure primarily related to the energy industry under long-term contracts. Investors seeking aggressive exposure to the MIC story are probably best served focusing on the equity offering. But dedicated convertible investors can use the bond to help achieve their portfolio’s yield bogey with a dash of upside.  

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