Deal analysis

  • Kazakhstan eyes bank lending alternative

    25 Oct 2011

    Kazakhstan’s private equity market is set to benefit from a decline in bank lending, with its government reforming regulations to make the country more attractive to project finance investors

News analysis

  • Why winning bidder finance survives Del Monte

    26 Oct 2011

    Settlement in Del Monte’s closely-watched shareholder litigation does not mark the end of stapled finance or winning bidder finance, but US counsel predict market expectation to shift away from banks working both sides of deals

  • Sponsors lose post-crisis loan covenants

    25 Oct 2011

    Leveraged loan covenants are showing banks’ hesitancy to finance all but the strongest of credits. More robust market flex terms and bigger equity checks have characterised deals coming to market during summer

  • Mark Wetjen appointed to CFTC

    21 Oct 2011

    Senior senator advisor Mark Wetjen was appointed as the new commissioner of the Commodities Futures Trading Commission (CFTC) on Friday morning

  • Exclusive: HKMA rejects CoCos for now

    20 Oct 2011

    Contingent convertible bonds will need to be more widely-tested before the instrument is recognised in Hong Kong, the HKMA has told IFLR

  • Mifid II: first reaction

    20 Oct 2011

    Investment banks and asset managers look set to be among the biggest losers after today’s adoption of the twice-delayed Mifid II proposals

  • BBA takes lead on liquidity swaps regulation

    18 Oct 2011

    British banks have criticised the UK FSA’s handling of liquidity swaps between banks and insurers

  • Non-bank Sifis not likely to include hedge funds

    18 Oct 2011

    Most hedge funds will not be deemed systemically important financial institutions if an Financial Stability Oversight Counsel’s proposal is enacted

  • PD level two to force multiple summaries, say issuers

    18 Oct 2011

    Esma’s technical advice for level two of the Prospectus Directive will effectively force companies to redo their summaries each time they issue, according to an issuers’ group

  • US welcomes pay-to-play no-action letter

    18 Oct 2011

    Investment advisers have welcomed the SEC no-action letter on pay-to-play requirements

  • Volcker: more questions than answers

    18 Oct 2011

    The 298-page Volcker rule proposals released last week by four regulators poses 383 questions - more than most senior practitioners have ever seen in one rule

  • EU contract law may cover financial services

    13 Oct 2011

    Yesterday’s publication of the EC’s proposals have prompted speculation that the scheme will soon encompass financial services

  • US government supports sales of private company shares

    13 Oct 2011

    Investors can purchase shares in private companies not subject to US SEC registration and disclosure requirements, if legislation drafted by US Representative Patrick McHenry is passed

  • Structural flex creating trustee angst

    11 Oct 2011

    The trend towards structural flex provisions in high yield documents is creating headaches for trustees, according to a Clifford Chance partner

  • Leaked Volcker Rule – first reaction

    06 Oct 2011

    It looks like financial institutions will have plenty of opportunity to influence the final form of the Volcker Rule. Here are the key questions and inconsistencies

  • Drop the high hopes for Volcker draft

    04 Oct 2011

    Bankers' counsel don't expect a granular proposal, and even Finra admits it will be difficult to identify prohibited trades under the rule

  • Contracts at risk?

    03 Oct 2011

    An article of the French Commercial Code may open the door to challenges to agreed deals if they are not balanced