In the debt markets
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Our Debt & Capital Advisory team has launched its new thought leadership programme. In their first report they explain that macro economics and financial sector uncertainty continues to grip the markets.
We see a significant difference in market conditions between the middle market (debt deals up to €200m) and the larger market. In the larger market, the lack of fund liquidity makes banks unwilling to underwrite new deals. The characteristics of the middle market, which are often financed through a club of banks drawn together by an adviser, mean that for the right credits, deals can still get done.
The high yield market is likely to remain shut and issuers are preparing now to launch in 2012 as soon as the market reopens. There is an expectation that windows on the market can open and close quickly and, therefore, being prepared is vital.
We are active in providing creative, market driven advice for our clients based on our long involvement with the debt markets. We are always ready to engage and advise on why these market conditions matter to you.
