February 2003
| Euromoney February 2003 The next battle in the war for survival in US exchange-traded futures is about to begin, and it looks set to be much more cut-throat than before. The Board of Trade and the Merc, once seemingly set for extinction, have been reborn as fierce competitors. They must continue to evolve. |
Euromoney February 2003
The gold price has risen spectacularly in the past year but it is not clear that this buoyancy can be maintained, particularly as investment demand has far exceeded any increase in purchases by manufacturers.
Euromoney February 2003
Euromoney February 2003
Bear markets breed their own types of deals - balance sheet repair, restructuring, liability management, monetization of illiquid assets, securitization, opportunistic acquisitions. The pace and intensity of such deals may vary between the long hard slog and sudden bursts of activity, but companies and bankers that do well in them tend to share certain characteristics: a refusal to accept defeat, creativity that may be inspired by desperation, and a determination to deal with complexity and hold their nerve. Banks must sometimes underwrite risks they would rather not take, just to complete deals.
Euromoney February 2003
As investors cut back on corporate exposure, high-quality issuers are scooping up funding. Smaller ones can satisfy their needs with many bite-size deals rather than a few jumbos.
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
Sovereign borrowers
Euromoney February 2003
For years companies leveraged up to boost shareholder returns. When the boom burst the disappointment of stockholders was as nothing to the wrath of creditors who have pushed companies to the brink. Some have pulled back, others are still teetering, only a few have steered well clear of trouble.
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Despite the continuing weakness of equity markets, institutional investment in hedge funds has grown only slowly.
Euromoney February 2003
Euromoney February 2003
If equity research is quarantined from sales, will institutional investors feel the pinch? Many feign indifference to the crackdown, which was partly triggered by their own apathy. If pressed, though, they admit new structures could be costly and fundamentally change the way they do business.
Euromoney February 2003
The AKP’s hefty majority in Turkey’s November elections looked promising but indecision has taken a hold on the new government, not least in its commitment to the discipline required by the IMF.
Euromoney February 2003
Euromoney February 2003
The days of large foreign investment flows to Latin America appear to be over. Companies and countries in the region are therefore going to have to find new ways to achieve sustainable growth.
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Euromoney February 2003
Japan
Euromoney February 2003
M&A
Euromoney February 2003
Foreign exchange
Euromoney February 2003
Fixed income
Euromoney February 2003
Fund management
Euromoney February 2003
Investment banking
Euromoney February 2003
South Korea
Euromoney February 2003
Euromoney February 2003
Middle East
Euromoney February 2003
Ukraine
Euromoney February 2003
Issuer: Tyco InternationalSize: $.4.5 billion 144a convertible bondBookrunners: Morgan Stanley, Banc of America Securities, Citigroup
Euromoney February 2003
CEO and president of Shariah Funds Inc
Euromoney February 2003
New business development executive, JPMorgan Investor Services