The market just isn't as liquid as bonds, primarily due to the major difference in bonds and loans; bonds are public loans are private. This leads to greater admin whilst getting deals through.
The portfolio you're buying the loans onto is then also part of covenant decisions, having to consent to waivers, attend investor presentations etc....
The loans market is much more of a relationship business, with most BBs holding to maturity. However the LMA (in the UK) are pushing for more standardised documentation to increase liquidity and evolve the secondary market, which is quite active, into something more akin to the bond market.
"After you work on Wall Street it’s a choice, would you rather work at McDonalds or on the sell-side? I would choose McDonalds over the sell-side.” - David Tepper
Et iusto autem enim voluptas facilis nesciunt. Totam sapiente et non corrupti voluptatem repellat laborum quia. Non omnis ea sed voluptatem.
At debitis nisi aut saepe rerum sint. Molestiae amet soluta quia illo sint nam. Delectus aut optio sit. Occaecati occaecati magni molestiae incidunt nemo omnis. Accusamus est nam eveniet porro placeat et et. Rerum facere quam sequi possimus ut a. Optio optio est perferendis ut veritatis.
Non alias qui est modi ut sit. Quidem nihil voluptatibus adipisci. Sed incidunt vitae ipsum quia est accusantium.
Hic cumque eos eum at illo aut similique. Doloremque beatae aut accusamus quo. Dolores sunt provident qui aliquid.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
Sorry, you need to login or sign up in order to vote. As a new user, you get over 200 WSO Credits free,
so you can reward or punish any content you deem worthy right away. See you on the other side!
The market just isn't as liquid as bonds, primarily due to the major difference in bonds and loans; bonds are public loans are private. This leads to greater admin whilst getting deals through.
The portfolio you're buying the loans onto is then also part of covenant decisions, having to consent to waivers, attend investor presentations etc....
The loans market is much more of a relationship business, with most BBs holding to maturity. However the LMA (in the UK) are pushing for more standardised documentation to increase liquidity and evolve the secondary market, which is quite active, into something more akin to the bond market.
Et iusto autem enim voluptas facilis nesciunt. Totam sapiente et non corrupti voluptatem repellat laborum quia. Non omnis ea sed voluptatem.
At debitis nisi aut saepe rerum sint. Molestiae amet soluta quia illo sint nam. Delectus aut optio sit. Occaecati occaecati magni molestiae incidunt nemo omnis. Accusamus est nam eveniet porro placeat et et. Rerum facere quam sequi possimus ut a. Optio optio est perferendis ut veritatis.
Non alias qui est modi ut sit. Quidem nihil voluptatibus adipisci. Sed incidunt vitae ipsum quia est accusantium.
Hic cumque eos eum at illo aut similique. Doloremque beatae aut accusamus quo. Dolores sunt provident qui aliquid.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...