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A heavy burden of internal bureaucracy when dealing with emerging market issuers is nothing new to bankers. But while they have long accepted that they are there to help treasurers look good, these days they disagree with their clients over which funding strategy will put them in the best light.
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Near term maturities for speculative grade rated companies in Europe, Middle East and Africa are surging, according to a report by Moody's. The amount of debt issued by these companies that matures next year, has reached $101bn — a 20% increase from Moody's calculation of 2014 maturities a year ago.
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A buoyant high yield market and lenders’ willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody’s. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.
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A buoyant high yield market and lenders' willingness to amend and extend loans has helped tackle near term maturities of unrated European LBO debt, according to a new study from Moody's. However, the report warns that some weaker and smaller companies might still struggle to refinance their maturities.
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Political protests in Turkey should hold no fear for supporters of Islamic finance in the country. The hard work has been done and the product looks set for a big future.
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Loan Ranger is a sucker for data. He likes few things more than trawling through a seemingly endless inbox of emails to find a well researched and thought-provoking data study among all the usual hubris.
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Regulatory proposals that now more clearly define risk retention rules for European collateralised loan obligations could end up dealing a blow to a market that had only just started getting back on its feet.
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The fuss over covered bond issuance and the impact of asset encumbrance on the senior unsecured claim is nothing more than a warm-up act for the main show — the fading away of senior unsecured bank debt.
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For all its record-breaking size, Petrobras’s $11bn bond has set surprisingly few hearts racing. Bankers hardly seem shocked by the scale of the deal. It simply confirms what many people already suspected EM was capable of.