Corporates in race for fast cash as banks push for reg relaxation
European corporates facing months of operational lockdown in the face of the coronavirus pandemic are turning to equity capital markets to secure their survival. But they need to be quick about it with markets so volatile, meaning banks are exploring how to get them in and out of the market without putting them through the long, arduous process of a rights issue.
On Wednesday SSP, the UK operator of food and beverage outlets, issued new shares representing a 19.3% stake in the company, to provide it with immediate cash to deal with the severe damage the pandemic has caused its business.Because the stake being raised was less than 20% ...
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