The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Quotes of the month

"Don’t be a dick"

What one investor apparently told Glencore’s CEO when Ivan Glasenberg asked about the potential for an 11th hour increase in the list price of its $10 billion IPO in May

(see How Glencore crashed through the equity markets)

"We never intended to be aggressive on price and leave a bad taste in anyone’s mouth. It was always the plan to leave some money on the table"

Steve Kalmin, CFO of Glencore, defends the company’s IPO

(also How Glencore crashed through the equity markets)

"We thought we could relax a bit a year ago but this has not proved to be the case. Counterparty risk used to be our prime focus – now it is also liquidity risk"

Richard Veffer, group treasurer at KPN, highlights the changing relationship between top companies and their banks

(see Corporates turn their backs on banks)

"The rules appear to be addressing derivatives on asset-backed securities – and really those don’t exist anymore"

An ABS origination chief sees the flaws in the SEC’s latest short-selling ban

(see Securitization: SEC’s ABS shorting ban will have no effect)

"There is a reversion from the first half of the year. Deals that were perfectly sensible eight weeks ago – people are now looking at them and saying: ‘How the fuck did we manage to lever it up that much?’"

A private equity sponsor is amazed at how quickly the markets have deteriorated

 (see Leveraged finance: Refinancing risks re-emerge in LBO market)

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree