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Moody's says the prevalence of PIKs could lead to bondholders wanting structural risk mitigants
Blackstone out with two trades but overall issuance could suffer
The Manchester based company was advised by debt specialist Alvarez & Marsal
Direct lenders take the initiative as banks step back
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The €210m and €80m loans do not herald a wider array of new money transactions
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After only three years away, Ermotti is back and may need a big hitter to handle combined investment bank
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Slightly more activity is expected in levfin, but no new money deals are on the horizon
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Deals go ahead though market participants 'nervous'
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When the storm comes, capital instruments are chaff in the wind
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Overlap between banks is tempting to rivals, as UBS works out new strategy