Issuing bank debt used to be easy. But with many banks now crowding through the same narrow issuance windows, even high-quality issuers have barely covered the books on some deals. And as non-performing loans look set to rise, investors are worrying that the boon from higher rates won’t last.
Despite the many odds against the start, the managing committee of the club has done well to gain the go-ahead and the professionals, it must be mentioned have played a stellar role to get the horses ready for the action on the opening day.