Thursday, Jul 12, 2007
“European investors have had their fill,”
dailyreckoning.com: Global “Dash for Cash” Puts Pressure on Debt Markets
Almost 60% of credit professionals surveyed by In-House Lawyer magazine think the bubble in Europe’s leveraged finance market is now “unsustainable”. Four in five of those gloomy professionals reckon the bust will strike inside 12 months. “European investors have had their fill,” said Luis Sanchez-Guerra, head of capital markets at Ahorro Corporacion Financiera in Madrid, to Bloomberg yesterday.But fear not! If you can’t get your bond issue away to cheese-eating continentals, simply go west. “The Dollar market opens an avenue to new investors,” says Sanchez-Guerra. His firm, owned by 43 savings banks, plans to sell US$2 billion of notes backed by Spanish home loans into the US debt market. He might just find willing buyers, too.
Posted by chris @ 06:25 PM (150 views) Add Comment
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