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Syndicated Loans

Loan Ranger: New Year hangovers

loan ranger

While equity markets began 2016 with a head-banging hangover, some loan bankers suffered worse from the repercussions of their glut of food and alcohol over the year end.

Celebrations at the end of a challenging 2015 were so raucous that many loans bankers were absent from the office in the first week of this year, nursing hangovers in chocolate box ski towns and dreamy Caribbean beaches.

But some were not so lucky. ICBC’s Benny Zachariah found himself working, enjoying the delights of year-end administration and planning ICBC’s attack on the loan market in 2016.

Citi’s Rizwan Sheikh also spent the end of 2015 in a grey and drizzly London.

Most investment grade bankers claimed to be blowing away cobwebs in their first week back but for some it was like they had never been away. ING’s Matt Rhys-Evans was another of the merry few who had to work through the holidays, although this may have been a ploy to avoid the extended family fun between Christmas and the New Year.

Leveraged loan bankers hit the ground running in 2016 with a busy deal flow for the first week of the year. They must have started their new year health kicks early to get into shape for a busy January.

Meanwhile, the Ranger welcomed the New Year dancing around a tree in the English countryside and singing Auld Lang Syne.

(Incidentally Auld Lang Syne is the noise the Ranger’s wallet makes on the rare occasions it is opened to buy a round of drinks. Which is why the Ranger's 2016 resolution is to be more generous getting the drinks in, so there will be even more hangovers for the loan market!)

Happy New Year to all and let it be a prosperous one!

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