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IFRS 16 Start early and avoid costly mistakes

IFRS 16 leases will be effective from 1 January 2019. The new standard will replace IAS 17. The deadline may seem far away, but because the implementation of IFRS 16 will have a significant impact on quite a range of companies, we advise to prepare early. Therefore it is important to put IFRS 16 already high on the agenda.

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Increasing volumes in the European leveraged loan market

Debt markets update

The new-issue volume of leveraged loans in Europe almost reached €80 billion in 2014, the highest level in seven years and an increase of 17% compared to 2013. Leveraged loans are loans provided to companies that, usually, already have considerable amounts of debt and they are generally associated with mergers and acquisitions as they provide the extra cash needed to facilitate a deal. 

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Investment grade corporates, use your refinancing window!

The effects of the credit crisis on corporate funding options have often been discussed. The general message is that it has become much more difficult for companies to attract bank financing since the start of the crisis in 2008. This is mainly due to worldwide deleveraging by banks, fueled by new regulations such as Basel III. However, these developments have also created an interesting opportunity for European investment grade corporates.

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Liquidity risk associated with the AIFM directive

The shutdown of the American government illustrated once again the potentially huge implications of liquidity risk. Recent history is littered with liquidity events, resulting in increasingly strict regulation in this sphere.

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Retail Bonds: A Suitable Match for Mid-sized Corporates

For the many companies and treasury departments in Europe seeking alternative funding sources to the banks, retail bonds can offer an attractive option although one that is not without its challenges. This article investigates the pros and cons for small and medium-sized enterprises (SMEs) of the retail bond market and how initiatives in the UK and Germany in this area have fared since their launch three years ago.

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