Companies’ use of credit facilities have helped to finance their post-pandemic investments while shielding them from the highest rates in 13 years in the bond market. That in turn has been a fresh source of business for lenders at a time when other desks, including capital markets, run at the slowest pace in several years.
“There was a period there of the debt capital market being a little bit less accessible. So we did see large corporates utilize their bank credits more. That seems to be turning with the debt capital market being more available going forward.” -- Canadian Imperial Bank of Commerce Chief Financial Officer Hratch Panossian.
“There’s multiple ways you can finance yourself. We’re watching that very closely, but if you want to go for duration 10, 15, 20 years, there’s nothing that beats the bonds right now.” -- Alimentation Couche-Tard Inc.’s Chief Financial Officer Claude Tessier. The company, whose fiscal first quarter earnings came in stronger than analysts expected, is looking to expand its footprint especially in the US and Europe via acquisitions.
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Source: TorontoStar - 🏆 60. / 55 Read more »