The GlobalCapital Podcast
A weekly podcast from GlobalCapital, the capital markets news service based in London and New York, discussing its most interesting stories from around the world.
Every Friday, listen to lively discussion about the very latest themes, the most innovative and important bond and equity issues and syndicated loans and much more from the capital markets.
This podcast is for anyone working in - or who wants to work in - the capital markets from investment bankers, to funding and treasury officials, investors, lawyers, analysts, NGOs and lobbyists, regulators and policy makers, and analysts.
GlobalCapital has been the "voice of the markets" for over 35 years, covering bond, loan, equity and securitisation markets around the world.
We cover everything from public sector bond issuers, financial institutions, emerging markets and investment grade corporate bonds and loans to securitisation (including CLOs and ABS), regulation and market news as well as industry gossip.
GlobalCapital is written for capital markets professionals but the podcast is of value to anyone with an interest in the industry, whether you have been working in it for as long as we have, or are looking to make your first career move into it.
This podcast is a commute-sized slice of everything that's most interesting from the world's capital markets with the aim of helping you sound smarter in your morning meeting, or making you stand out from the crowd of other hopefuls when kick-starting your career.
And don't forget, you can #AskGC anything you like and we will select the best questions to answer on the show.
Contact us at podcast@globalcapital.com
The GlobalCapital Podcast
The big test for 2023 and the ECB’s inadvertent boost to private credit
- Why the good times in primary bond markets may not last
- The consequences of the ECB’s demand that banks buffer their leveraged finance positions on LBOs
- How that could play into the hands of private creditors
The first couple of weeks in January are not just among the busiest of the year in the capital markets but can also tell us a lot about the year ahead. In the first GlobalCapital Podcast of the year, we take a look across the credit spectrum from ECB rulings in the leveraged finance market to how sovereigns will fund the energy price crisis.
How bond issuance goes in January is especially important this year after such a disrupted 2022 for so many borrowers. A lot of the problems underlying bond issuers’ attempts to raise capital last year have not been solved — inflation is still high, rates are rising, recession is looming and the effects of war in Ukraine linger.
Nonetheless, issuers across the board enjoyed a strong first few days in the markets. Bigger tests are to come, however, especially once the bloated piles of cash that investors have to deploy each January start to dwindle.
Meanwhile, the ECB has increased the capital it wants banks to hold against their leveraged finance positions. We discuss how that will affect the investment banks that dominate this market, why it could play into the hands of private credit and what it means for leveraged buyout volumes this year.