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 Cookiesbefore 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.

Deals of the Year 2008: A year of living on the edge

The most canny issuers in 2008 were those that realized it was important to get on and raise capital even if the price was not great. Waiting for the market to improve was and remains a potentially fatal strategy. Alex Chambers reports.


CAPITAL-RAISING MATTERED more than ever in 2008. There seems little doubt that it will also be a big theme during the next 12 months.

Last year was dire for the capital markets. Right from the off, activity was subdued, even in the US where the primary market normally has a roaring start to the year. The tensions that began in 2007, when concerns about sub-prime related losses hurt investor confidence in the investment banking community, became so great in 2008 that they cost many institutions their independence or even existence.

"The overriding theme of last year was the wisdom of taking the money when it was there," says David Marks, chairman of FIG DCM at JPMorgan.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

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