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...Sabrina Fox is founder of Fox Legal Training....
...The writer is founder of Fox Legal Training Much ink has been spilled about the degrading quality of investor protections in high-yield bond and leveraged loan agreements, also known as “covenants”....
...“Households and businesses built up excess savings during the pandemic and there is not so much excess leverage in the system,” says Sabrina Khanniche, senior economist at Pictet Asset Management....
...Sabrina Jacobs, a portfolio manager at Pictet Asset Management said it was “a disservice to actual EM economies” to compare the UK to an emerging market, saying “in some respects less developed countries...
...“I don’t see 50 basis points tomorrow,” said Sabrina Kanniche, senior economist at Pictet Asset Management....
...Credit Suisse found itself in legal trouble again in 2021 in the Mozambique “tuna bonds” scandal....
...“When you’re looking at coronavirus, these revenues will never come back; it is literally a fiction,” said Sabrina Fox, executive adviser at the European Leveraged Finance Association....
...To the rest of the world, she's simply Sabrina Ionescu, the best college basketball player — male or female — ever....
...Europe’s bonds, currency and stocks could become much bigger features of international portfolios. Bonds, in particular, could benefit....
...“Fundamental investor rights are being infringed,” said Sabrina Fox, executive adviser at Elfa. “It’s just awful.”...
...The actor Lucy Davis (above) from The Office, The Archers and Chilling Adventures of Sabrina is the daughter of which comedian? What’s the only number one single by the Kaiser Chiefs?...
...Simon Garfield, the author of Dog’s Best Friend: A Brief History of an Unbreakable Bond, says they are clearly being exploited....
...The yield on Italian 10-year bonds, which is a barometer of appetite for funding peripheral European governments, briefly fell to 0.823 per cent, close to a record low. Yields move inversely to prices....
...“If a company adds back revenue in order to calculate its capacity to add debt, it’s calculating it on a false profitability,” said Sabrina Fox, executive adviser at Elfa....
...Sabrina Fox can pinpoint the moment she decided that fund managers needed more help fighting back against flimsy investor protections in risky bonds....
...Sabrina Strong, outside counsel for J&J, said consultants present many ideas that go unused but that the products were marketed responsibly within a strictly regulated environment....
...“This sends a clear message that issuers should not expect to achieve the same covenant flexibility available to the market last year,” said Sabrina Fox, co-head of European research at Covenant Review,...
...“We have been warning investors that bond documents are making it easier for companies to pay their shareholders dividends,” said Sabrina Fox, co-head of European research at Covenant Review....
...Additional reporting by David Bond and Nic Fildes in London, Edward White and Kathrin Hille in Taipei and Kiran Stacey in Washington...
...It is a view echoed by Sabrina Fox, co-head of European research at the credit research firm Covenant Review....
...“The traditional contract between private equity sponsors and high-yield bond investors is being shredded if this consent solicitation goes through,” said Sabrina Fox, co-head of European research at the...
...“This carve-out represents another sea change in the erosion of European covenant protections,” said Sabrina Fox, co-head of European research at credit research firm Covenant Review....
...Sabrina Fox, Covenant Review’s co-head of European research, told the Financial Times that as more US issuers tap the euro bond market, European investors needed to be more aware of aggressive “US sponsor-style...
...“This is an important win for investors in Europe — not only because it eliminates a very significant risk of value loss for this specific credit but also more broadly,” said Sabrina Fox, co-head of European...
...“European investors are either unaware or unable to push back,” says Sabrina Fox, an analyst at Covenant Review, which examines covenants for institutional investors....
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