Top Wall Street Banks Left with 5.4bn Junk Bonds Indigestion ; in Brief
Evening Standard - London › July 17, 2007
Linked as:
Summary
A JUNK BOND logjam among the world's largest banks could hasten the predicted slowdown in the mergers and acquisitions boom. Top Wall Street investment banks are reckoned to be saddled with more than $11 billion (5.4 billion) of high-yielding bonds or other higher-risk loans as trade in debt suffers its worst bear market for at least two years.
High-yielding bonds have been the engine of the buyout boom, funding the private-equity industry's debt-laden deals. Major banks such as Goldman Sachs and JPMorgan have backed these deals by packaging borrowings like junk bonds into the debt market and earning huge fees on the back of them.See the full content of this document
Extract
Top Wall Street Banks Left with 5.4bn Junk Bonds Indigestion ; in Brief
Howe...
See the full content of this document
Sponsored links
