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Voracious risk appetite propelled Goldman’s earnings in the good times and induced rivals to follow suit. Only when the crash came did they learn, too late, how good a risk manager Goldman is. By managing itself well and avoiding the worst hits, while rivals are clearing up their own mess, Goldman has enha
Euromoney July 2008
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The announcement of the creation of a central counterparty for over-the-counter credit default swap trades has been described as one of the biggest developments in the history of the market.
Euromoney July 2008
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The prospect of a regulated credit rating agency sector in Europe will move one step closer tomorrow (July 8) when a proposal is due to be submitted by the Commission to Ecofin outlining plans for the agencies’ regulation and oversight.
Published July 2008 euromoney.com
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Series of opportunistic buybacks is ruffling feathers in the loan market.
Euromoney June 2008
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Euromoney June 2008
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Euromoney June 2008
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Euromoney June 2008
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Permanent deal is the most exciting thing for a very long time.
Euromoney June 2008
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When Deutsche Bank paid a large premium to issue bonds in August, many derided the deals. But a lot of borrowers would now be very happy to have funded at the same levels.
Euromoney June 2008
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The borrower stands out for its prolific yet nimble use of the global capital markets during the credit crunch.
Euromoney June 2008
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The billionaire investor is one of the world’s most successful buyers of distressed assets. He talks to Sudip Roy in New York about value destruction, a Middle East partnership and his strategy for the future.
Euromoney June 2008
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One of the many things that got forgotten during the LBO boom was that mezzanine is a risky product.
Euromoney June 2008
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Many voices have called an end to structured credit. And yet, amid the continued retrenchment and fallout from several years of excessive activity, there are signs that this structuring technique is far from dead: its proponents are merely reshaping the technology. Alex Chambers reports.
Euromoney June 2008
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Euromoney June 2008
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After the bleakest of winters, springtime in the debt capital markets was an especially joyous affair. In April and May there were record new-issue volumes in the US and a revival of the European market. That is good news for large financial institutions and the big underwriters.
Euromoney June 2008
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Much of the focus on the credit crunch has been on the biggest financial intermediaries, but fixed-income investors were also shaken. Alex Chambers finds out what the biggest players think are their opportunities and challenges.
Euromoney June 2008
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After a year that has been ruthless in its revelation of sub-par debt services, the Euromoney debt poll reveals which banks have managed to survive the credit crunch with their reputations, and their client bases, still intact.
Euromoney June 2008
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These are happy days for mezzanine lenders. Having been excluded from the LBO boom of recent years they are now the first port of call for sponsors in the brave new world of leveraged finance. But how long will the mini-boom last? Louise Bowman reports.
Euromoney June 2008
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Who’d be a DCM head in 2007 or 2008? These bankers would. Alex Chambers finds out what the head officials at leading banks think are the key lessons the market has learnt and what the future holds for debt capital markets.
Euromoney June 2008
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Slovakia’s now near-certain entry into the eurozone in January 2009 should help bolster the country’s credit ratings and improve investor sentiment towards the country, say bankers.
Euromoney June 2008
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Euromoney June 2008
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HBOS deserves the gratitude of its rivals for its attempt at a UK RMBS benchmark, but it may prove futile in the short term.
Euromoney June 2008
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The gas transporter establishes a Colombian corporate benchmark by maintaining a flexible approach.
Euromoney June 2008
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Euromoney June 2008
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Financial institutions’ woes are not at an end. Non-deposit institutions still have losses to book and the whole credit creation model is broken. So a quick and easy upturn from the credit crisis is not to be expected.
Euromoney June 2008
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While some continue to debate whether the knife is still falling, others have decided that the distressed credit markets already offer an attractive investment opportunity.
Euromoney June 2008
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Anyone with a brief to outline the benefits of mezzanine lending over the hedge fund and CLO money that recently replaced it could do worse than sit back and wait for the first wave of recent LBO deals to go wrong.
Euromoney June 2008
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Standard Chartered and the International Finance Corporation have joined forces to launch the first-ever issuance of credit-linked notes backed by loans to microfinance institutions (MFIs) in sub-Saharan Africa and South Asia.
Euromoney June 2008
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The credit crunch has brought the benefits of a strong, experienced debt house into stark perspective, and there has been a realization that not all investment banks and their services are equal. Jethro Wookey reports.
Euromoney June 2008
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Euromoney June 2008