The sovereign debt restructuring mechanism is the most contentious proposal ever to come out of the upper echelons of the IMF.
Ambitious efforts are under way to bring order to sovereign debt work-outs.
Hutchison publicly blames its abandonment of a foray into euro bonds on adverse market conditions.
The Islamist AKP fought Turkey’s elections fuelled by discontent with political corruption and incompetence.
As volumes and margins fall in conventional sales, trading and new issues, leading equity firms are desperate for new sources of revenue.
All the global cash management banks continue to concentrate on the small pool of top-tier multinationals where there are opportunities to cross-sell but where competition is most intense.
Large investment-grade corporate borrowers have increasingly turned to securitization as rating downgrades and investor risk aversion have pushed spreads on normal bonds to junk levels.
Deteriorating credit quality has combined with structural illiquidity in the credit market to produce extreme volatility.
Banks and opportunity funds are lining up to benefit from an expected transfer of real-estate assets from cash-strapped corporates to investors.
Frank Sixt, chief financial officer of Hutchison Whampoa, spoke to Euromoney’s Chris Cockerill about his company’s aborted euro market bond issue and its plans for developing 3G telecoms technology.
The flight to quality has brought KfW new bond investor friends to add to an already highly satisfied clientele.