UBS Warburg and Deutsche Bank have come up with a novel equity-linked deal for a German utility firm which they claim will overcome some of the pitfalls that have troubled new issues this year.
The two banks have put together a variation on the so-called initial public offering or "going public" bond for Energie Baden-Württemberg, a German electricity generator and distributor which is planning to launch a mammoth share sale in the next 18 months.
