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“We did not win mandates by being overly aggressive on pricing” David Pepper, WestLB |
Most recently, David Pepper, a WestLB loan syndications director for the CEEMEA region, led a 32-bank group that was forced to partly extend the maturity of a $300 million facility at the last minute for Bahrain’s Gulf Finance House (GFH). The bank posted a $728 million loss for 2009 and its rating was lowered to selective default by Standard & Poor’s on the facility’s February 10 due date, when the new arrangement was announced.
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