Search results for

The number of securitization deals grew by 14% in 2002. Banks continued to tap the markets for regulatory capital through innovative tier I deals. And even the 2.5% fall in global debt issuance was bearable compared with the near disappearance of primary market equity deals. Last year was still not good for debt capital markets lawyers, but it could have been so much worse. Here IFLR publishes, for the first time, tables of the leading legal advisers on tier I debt and convertible bonds as well as its annual tables of advisers on securitization and high-yield deals. Simon Crompton and Catherine McShane report

Frederick Feldkamp of Foley & Lardner says new accounting rules on the consolidation of variable interest entities show the US has learned from the Enron disaster. These rules could even enhance the prospects of the US securitization market

The Dorchester Hotel, London, March 25

In turbulent times banks must trust material adverse change clauses to protect them from unforeseen risk. Richard Gray, Patrick Holmes and Kevin Muzilla of Milbank Tweed Hadley & McCloy examine the relative merits of these different arrangements

Budget Rent a Car has become the first US company to be put into UK administration and US Chapter 11 through the use of new pan-European insolvency procedures allowed under the EU's Insolvency Regulation.

Hengeler Mueller and Cleary Gottlieb Steen and Hamilton have advised on Deutsche Telekom's mandatory convertible bond, only the second to be issued in Germany.

US firm Dechert has completed work on the largest high-yield debt offering in three years.

Telkom South Africa has become the first foreign company of the year to list on the New York Stock Exchange, with Paul Hastings Janofsky & Walker, Freshfields Bruckhaus Deringer and Skadden Arps Slate Meagher & Flom all having roles in the offering.

Clifford Chance has worked on what could be the first Italian whole business securitization, helping Aeroporti di Roma, the group that operates Rome's Fiumicino and Ciampino airports, reduce its debt.

The Chinese government has taken a step towards easing the country's bad debt burden by approving - for the first time - an onshore Sino-foreign joint venture to buy a portfolio of non-performing assets.