Securitisation is returning to the UK, but the battle scars
it sustained during the downturn are plain to see. Certain
areas, particularly mortgage-backed deals, are pretty lifeless,
though Barclays looks set to try to challenge that trend soon.
Others, utilities deals in particular, have proved buoyant.
What companies are learning is that to succeed, deals must be
transparent, clearly structured, and involve potential
investors at every stage. This may be unsurprising. But it also
means complicated new structures are being developed to deal
with new demands; innovation isn't opportunistic, it's
The trend for increased investor participation continues
across the US and Asia, though under very different
circumstances. In the US, little is happening outside the
government-sponsored programmes, whereas in Asia it's a lack of
liquidity that is stalling deals, not a lack of confidence.
With both transparency is the priority, with uninterrupted cash
flows and highly...