- +44 (0) 20 7542 3825
Nomura has bolstered its structured finance and special situations group with three hires, part of a push the Japanese lender is making in financing complex debt deals in the EMEA region.
The value of credit derivatives used to insure against a default on Schaeffler collapsed last week after the German car-parts supplier announced changes to its debt structure that traders worried could make credit-default swaps on the firm all but worthless.
Corporate bonds have rebounded strongly in their best start to a year since 2012, a welcome boon for investors and bank trading desks that nursed hefty losses during a dismal end to 2018, while also providing the perfect backdrop for borrowers. But such has been the rally that investors and bankers are increasingly nervous that it has gone too far and may now reverse.