The global convertible bond market is on course for its slowest year since 2005, according to new data, with issuance in Europe, Middle East and Africa standing at just $11.5bn, the lowest level of activity in 15 years.

Global equity-linked volumes total $61.7bn for the year to date, according to Dealogic, down close to a third, or 29%, on the same period last year, and the lowest since 2005.