IFR German Corporate Funding Roundtable 2015: Participants

The transformation of the financial sector unleashed by the dual and inter-dependent post financial crisis cycles of super-regulation and strategic recalibration is all too often viewed through the lens of the primary agents: the banks. At the end of the day, though, it’s the clients who are impacted by changes to their financiers. It’s clear that as banks renovate their product offering; update their book of core clients and revamp their geographical footprints, clients need to be aware of what is changing, how it affects them and make...

IFR: Good afternoon and a warm welcome to IFR’s German Corporate Funding Roundtable. As the title suggests, I’m eager to explore how the landscape is changing, both from the sell-side perspective and – since we have some leading corporates around the table – from the borrowers’ perspective too. We hear a lot about the changing landscape on the lending side, given the issues the banks are facing around capital, liquidity, leverage and resolution. We also have a challenging external economic environment, which could potentially become more...

IFR: Peter, how much do you want to get involved in the name-by-name allocation of your bonds? And if you are in the market that regularly, would you consider direct issuance in specific circumstances?   Peter Zirwes, Daimler: Let’s put it this way, a functioning market definitely has its advantages. The broader the market is, the better it is so I would say a functioning market with banks as intermediators is very helpful, just as we experienced in the past. But things have moved on and, as we have already discussed, this has been brought much...