Wednesday, Nov 28, 2007
Deal values citi less than junk bonds
The Telegraph: Citigroup’s Abu Dhabi deal is 'desperate'
Each unit will pay interest quarterly, a fixed rate of 11pc per annum.
That compares unfavourably with the average yield for US junk bonds, which stands at 9.4pc according to Merrill Lynch data
Posted by sold 2 rent 1 @ 10:12 AM (367 views) Add Comment
1 Comment
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1. sold 2 rent 1 said...
Just like China's investment in Blackstone this deal will turn out to be a loser.
The SWFs need to spend their devaluing dollars, but on what? Devaluing assets. The great deflation will soon begin.
The ponzi scheme hasn't quite burst yet.
This cash injection will allow more borrowing in USD by hedge funds to buy emerging economies assets.
Banks have to keep adding more spinning plates otherwise the audience gets bored.