Latin American Loans Roundtable 2005
Latin American borrowers have hogged the limelight this year with several high profile syndicated loans, and despite razor-thin margins, banks have been buying increasingly large chunks. Some argue that the pricing is out of whack with the risk, but there is little on the short-term horizon to tip the balance away from the borrowers.
US Credit Derivatives Roundtable 2005
IFR’s recent credit derivatives roundtable came soon after 14 leading dealers had been called in to a meeting with regulators from around the world hosted by New York Federal Reserve president Tim Geithner. The dealers were summoned to explain how they planned to remedy problems associated with the explosive growth of the sector, and participants in our roundtable had varying views on whether the industry is taking the right approach tactically and strategically to issues such as reduction of the default swap confirmation backlog and unnotified assignment of trades.
Pfandbriefe/Covered Bonds Roundtable 2005
For as long as covered bonds continue to rival supra/sovereign/agencies in the high-grade frequent borrower/benchmark stakes, it is highly unlikely that there will ever be a shortage of talking points.
Leveraged Finance Roundtable 2005
US CDO Roundtable 2005
It has been a year of good problems for the CDO market. Demand for structured credit products remains extremely strong, despite stubbornly low spreads. This has led to difficulty in sourcing assets to place in cash CDOs, though the continuing sharp growth in deal volumes for cash trades is testament to the way that arrangers and managers have diversified in the structured finance, real estate and middle market loan sectors.
CMBS Roundtable 2005
The European commercial mortgage backed securities (CMBS) market has gone into overdrive this year. Observers from the Street, to the broadsheet press, from head hunters to corporate law firms are all talking about product that has moved from niche to mainstream over the past 12-months. And it's still building momentum.
Convertible Bonds Roundtable 2005
When IFR held its second convertible bond roundtable on February 17, the participants – Stephan Theissing of Allianz, Douglas Decker (Barclays Capital), Franck Cazaubieilh (BNP Paribas), Martin Fisch (Deutsche Bank), Manish Wadhwani (HVB), Viswas Raghavan (JP Morgan), Antoine de Guillenchmidt (Merrill Lynch) and Lorraine Lodge (Nomura) – had a lot to talk about.