“We know our competitors will bash us about the head about this. We weren’t the only bank involved. It’s not great news for the franchise, but the thing I can say is that we had a relatively junior role on the transaction”
One banker on the Luckin Coffee IPO wriggles on the hook in a pitch meeting shortly after the firm admitted it inflated its 2019 sales figures by $300 million
“For banks, taking deposits these days is so obsolete”
The definitive view from a senior investment banker in Tokyo
“On the spectrum, this deal was not dysfunctional”
Not a ringing endorsement of a trade by one banker
“Covenants were loosening, rates were attractive, almost everything was possible, it was just about how far you could push the envelope.
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