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Enough time to reach agreement on ESM bailout by second half of August, says @VDombrovskis, suggests more bridge finance won't be needed.
We've had four successful transactions, of which three have paid off thus far — we loaned the capital, it met their bridge finance needs and we've gotten our money back.
Implicit state support was no doubt helpful, but this did not amount to a bail-out: Satyam had to raise bridge finance on its own from private-sector banks.
The prospect of dwindling returns makes buy-out firms reluctant to club together to buy the big companies they covet; banks, meanwhile, are growing wary of offering their own capital as "bridge" finance.
Insisting that no official talks on a bridge loan had taken place, one Brussels official, who spoke on condition of anonymity because of the delicacy of the issue, pointed out that there were no provisions for bridge finance.
Only last week Thomson Learning, an education business, found it surprisingly hard to issue covenant-lite loans as investors grew squeamish.A second place to watch for changing appetites to risk is in bridge finance.
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A mortgage broker explained the intricacies of bridge financing.
The transaction will be financed by cash and a bridge financing loan, McKesson said.
Pfizer has obtained some $22.5 billion in bridge financing for this deal from five banks.
"Bridge financing is not off the table," finance ministry spokesman Jürg Weißgerber said on Wednesday.
Barclays and BNP Paribas advised Air Liquide and are underwriting the bridge financing.
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