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March 2010
Asia awards: Debt and equity-linked
March 09, 2010
The full write-ups of the best debt and equity-linked deals and firms in Asia this year
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Indonesia: Banks translate, despite assurances
March 01, 2010
Translation has become best practice on Indonesian deals as banks seek to comply with Law 24
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The new high yield bond explained
March 01, 2010
High yield investors are getting more seniority on deals but they need to read the fine print.
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February 2010
US court denies subprime appeal
February 24, 2010
A US subprime decision could cause plaintiffs in similar positions to establish fraud and jurisdiction in a lot more detail in the first instance
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Shearman and Links on InterXion bond
February 17, 2010
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Maintenance covenants won’t last in Europe
February 16, 2010
Maintenance covenants have crept into several European high yield bond deals in recent months, but the trend won’t continue for long
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Banks confident over innovative hybrids
February 09, 2010
Despite uncertainty over the future of regulatory capital rules, banks are confident that innovative hybrid products will provide core capital for financial institutions
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Loan covenants reinvent Asian high yield
February 09, 2010
High yield bonds in Asia are getting a makeover with extra covenants more typical to loans, as Chandra Asri’s $230 million bond has shown
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Why debtor-led restructurings won’t work in Asia
February 04, 2010
Debtor-friendly restructuring regimes should not be introduced in Asia, as the risk of corporate fraud is too great
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Shearman and Winston Strawn on Fage bonds
February 02, 2010
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First test case
February 01, 2010
A surprising conclusion on flawed-asset conditional
payments has practitioners scrambling for a solution.
Here's one
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January 2010
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Prospectus Directive reaction: summary still too simple
January 22, 2010
An updated draft report on changes to the PD rules has removed the worrying liability clause
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Dubai World update: creditors debate offloading
January 20, 2010
Creditors of the Dubai World debt will try to offload their exposure by offering their bonds for sale at below-par prices
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How Japan will keep out cov-lites
January 19, 2010
Mark-to-market regulations and concern over non-performing loans means cov-lites are unlikely to succeed in Japan
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Counterparty risk will dominate deals and regulation
January 14, 2010
Investors are already demanding new structures on deals to mitigate counterparty default risk. Regulatory initiatives in 2010 will follow that lead
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Covered bonds will take-off in Asia
January 14, 2010
Following Kookmin's covered bond last year, the market will take off in 2010. But lessons regarding collateral need to be learnt
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US legislature boosts covered bonds
January 14, 2010
Covered bonds will become popular in the US this year. New accounting rules mean that issuers are looking for alternative financing and legislation for the structures appears imminent
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US regulation is unpredictable and damaging
January 14, 2010
The biggest predictions are always the hardest to make. This is epitomised by lawyers’ reaction to wide scale financial regulations in the US this year
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Why cov-lites won’t migrate
January 14, 2010
Cov-lite loans were criticised during the financial crisis. But cov-lite elements to deals are being used again in the US, with their popularity set to rise throughout 2010
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Largest Saudi corporate note issue of 2009
January 08, 2010