Category Archives: Corporate debt

Next financial crisis locales? Try China and India

Posted on September 4, 2013 by vincentryan2013

As I wrote on CFO.com on Tuesday, China’s domestic banks may face problems during the “great moderation” of China’s economic growth.  A recent S&P report said that the majority of China’s top banks, and many regional and national banks, “remain vulnerable … Continue reading →

Posted in Bank balance sheets, Banking, Corporate debt, Credit markets, Financial crisis, Too Big to Fail, Uncategorized | Tagged , , , , | Leave a comment

A Good Time to Borrow

Posted on August 6, 2013 by vincentryan2013

Is there any end to banks’ easing of standards on business loans? Loan underwriting is getting pretty loose. The Federal Reserve’s Senior Loan Officer Survey for July shows banks easing standards (yet again) for industrial & commercial loans. The percentage … Continue reading →

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I’m not exactly a fan of private equity …

Posted on August 6, 2013 by vincentryan2013

… but an E&Y study I wrote about yesterday claims they are creating value — with returns higher than the public markets — with some new “levers.” I’m not so sure. The businesses they have acquired are earning higher valuations on … Continue reading →

Posted in Corporate debt, Corporate finance, Leveraged buyouts, M&A, Private equity, Uncategorized | Tagged , , , | Leave a comment

Oh, to be in the 1970s again

Posted on August 1, 2013 by vincentryan2013

Wouldn’t it be great to get 10% on a corporate bond again? Then again, the inflation rate was 11%. This post is really just an excuse to use Datawrapper. Here’s the interactive version. Related articles The Strategy of Monetary Policy: … Continue reading →

Posted in Corporate debt, Corporate finance, Credit markets, Data, Uncategorized | Tagged , , , , | Leave a comment

Five myths of convertible bonds

Posted on July 24, 2013 by vincentryan2013

Check out a great column on convertible bonds from an exec at Aequitas Advisors. convertible bonds short seller optionality strike price Aequitas Advisers Photo courtesy of Mighty Antar. Related articles Why convertible bonds are too expensive (investmentviking.wordpress.com) Tesla Shares Rally … Continue reading →

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The banks trust Henry

Posted on July 23, 2013 by vincentryan2013

As I wrote on CFO.com last week, LBO dealmakers have access to cheap debt. New proof of that came out today. According to Reuters, KKR got the cheapest borrowing rates ever for a leveraged buyout.  For the acquisition of Gardner … Continue reading →

Posted in Banking, Corporate debt, Corporate finance, Leveraged buyouts, M&A, Private equity | Leave a comment

Buffett explains how to play it safe

Posted on July 16, 2013 by vincentryan2013

The Seeking Wisdom blog on WordPress had a great post about the concept of margin of safety. Read it here. Among other points, he provides an excerpt of a 1984 speech on buying companies, by none other than Warren Buffett … Continue reading →

Posted in Banking, Corporate debt, Financial crisis, M&A, Too Big to Fail | Leave a comment

New Files to Download

Posted on July 12, 2013 by vincentryan2013

The Goldman Sachs study on Too Big Too Fail, an S&P note on rising leveraged buyout valuations, and a data screen on the top companies with rising debt levels relative to EBITDA. Enjoy.

Posted in Corporate debt, Data, Downloads, M&A, Regulation, Too Big to Fail | Leave a comment

The Bankers’ New Clothes Video

Posted on July 11, 2013 by vincentryan2013

Anat Admati explains her plan for fixing the global banking system. Related articles You give me a capital requirement, I’ll give you a derivative to skirt it. (mathbabe.org) Quick Take: Banks Need More Skin in the Game (thestreet.com) Why the … Continue reading →

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