Coverage of the unfolding crisis
...and how to fix it
Louise Bowman joined Euromoney in March 2006 as a senior correspondent on the fixed income team. She covers debt capital markets and restructuring.Louise has worked for a number of magazines in the Euromoney Institutional Investor group in London, New York and Hong Kong. Her beats have included syndicated loans, aircraft, asset and project finance and she spent several years in Hong Kong writing for Asiamoney. She has also written on M&A and private equity on a freelance basis.
Immediately prior to joining the magazine, Louise was editor of International Securitisation Report, a monthly title covering the structured finance sector.Email Louise Bowman About us
In attempting to curb the excesses of the leveraged lending market, regulators might end up pushing it into the arms of the very private equity sponsors they are trying to rein in.
Euromoney March 2014
Volcker damage contained; lending guidelines could lead to shortage of assets.
‘Default entirely avoidable,’ say lenders.
Published February 2014 euromoney.com
EdF changed the hybrid game.
Euromoney February 2014
Twitter set an IPO landmark.
Liberty Global now dominates cable with takeover of Virgin Media.
Lenders set to vote on shape of final restructuring on February 14; vocal bondholder opposition could trigger default on £2.3 billion debt pile.
New funds to track both A50 and CSI300 indices; Ucits compliance opens funds to European buyers
Crédit Agricole attracts 900 orders; when everyone is buying, aficionados suggest time to sell.
Hybrid investors are getting burned as the legacy of Moody’s change in methodology starts to hit home.
Published January 2014 euromoney.com
Bondholder representative says UK regulator has tough questions to answer on his knowledge of Co-op’s credit and liquidity positions; redacted notes suggest he pressured Moody’s not to downgrade bank in 2011.
Plenty of room for growth in neglected asset class; Good inflation hedge relatively uncorrelated to economic cycle
Allegations against RBS’s treatment of struggling small and medium-sized enterprises have once again cast a harsh light on banks’ treatment of these companies. While banks deal with zombie borrowers and tout loans at fat margins to stellar SME credits that don’t want them, it is SMEs in the middle ground that need more help.
Euromoney January 2014
Much of the funding of Germany’s economically vital SMEs continues to come from bank loans. Private placements and specialized bonds are of growing importance, but sometimes problematic from a risk point of view.
Political imperatives are driving the background noise to UK SME finance. But the companies themselves don’t seem to be listening.
Concerns for mid-tier banks as AQR looms; Likely that additional provisioning needed
OCC demands tighter standards; Cov-lite terms could spread to Europe.
Euromoney December 2013
Europe’s leaders are desperate to kick-start lending to the small and medium-sized businesses that are crucial to the continent’s economic recovery and see asset-backed securities as the key. But the entire sector is constrained by post-financial crisis rules. In an era that will be remembered for the unintended consequences of bank regulation, will the need for SME finance finally unleash Europe’s securitization markets?
Europe’s policymakers hope a new programme to facilitate securitization will help set free lending to small and medium-sized enterprises. But ABS specialists doubt the initiative will work – and if it is needed at all.
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