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Influential banker helped shape European levfin market in 35 year career
Gordon Houseman moves firm four years after becoming partner
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Intrum’s share price dropped sharply this week after short seller Muddy Waters disclosed it was betting against the firm’s stock price. The debt purchasing sector has been a popular target for short sellers for years, but the impact of coronavirus and associated measures is a further heavy blow. -
Cuts made to senior staff in the debt markets are coming home to roost now that the effects of the Covid-19 pandemic are coming to bear on loans and private placements. Old hands that navigated the previous crises are in short supply as borrowers and investors look to implement deal amendments to cope with a coming recession.
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Alternative credit specialist CIFC has hired David Walker as head of research.
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Three UK companies have already flagged their interest in the Bank of England’s emergency commercial paper funding scheme for large businesses, announced on March 20. The big three rating agencies will help fast-track unrated investment grade issuers into the scheme, but the strict eligibility limits leave leveraged and smaller companies out in the cold.
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A rush to dollars in recent days has caused dysfunctions in various corners of the financial markets. The US Federal Reserve has rushed to put out the flames, including with new measures on Monday.
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The Nordic region’s credit markets are experiencing something of a lockdown as the spread of Covid-19 lead to dozens of fund providers halting withdrawals last week and the effective closure of the primary market due to a shortage of liquidity.
